Romania's insurance market maintained its strong growth momentum in the first quarter of 2026, with total gross written premiums (including branches operating under the Freedom of Establishment regime) reaching approximately RON 6.8 billion (EUR 1.33 billion), up 15% year-on-year, according to the latest report published by the Romanian Financial Supervisory Authority (ASF).

The growth was driven by the continued expansion of the non-life insurance segment, particularly MTPL (RCA) business, as well as by the strong performance of insurance branches operating in Romania. During the same period, gross claims paid increased by 17%, while insurance brokers further strengthened their position, distributing more than two-thirds of all premiums written.

As of 31 March 2026, 24 insurers were authorized by ASF to operate in Romania, while 15 insurance branches were conducting business under the Freedom of Establishment (FoE) regime.

Non-life insurance accounted for 77% of the total underwriting volume in Q1 2026. Gross written premiums of insurers authorized by ASF increased by 12% year-on-year, while premiums generated by branches operating in Romania surged by 33%.

The total value of MTPL (RCA) premiums written by insurers authorized and supervised by ASF, together with branches and insurers operating under the Freedom to Provide Services (FoS) regime, amounted to approximately RON 2.7 billion (EUR 529 million), representing a 13% increase compared with the first quarter of 2025.

Solvency and liquidity remain robust

According to ASF, the Romanian insurance market maintained a solid solvency position, with market-wide solvency ratios remaining comfortably above regulatory requirements and broadly unchanged compared with the same period of the previous year.

The liquidity ratio for non-life insurance stood at 2.84 at the end of March 2026, slightly lower than in previous reporting periods. Liquid assets increased by approximately 17% year-on-year, while short-term liabilities rose by around 26%.

For life insurance, the liquidity ratio reached 3.46, compared with 3.66 a year earlier. Liquid assets increased by 10%, while short-term liabilities grew at a faster pace, rising by 17%.

Claims and investments continue to increase

Total gross claims paid, including those made by branches, amounted to approximately RON 3.3 billion (EUR 647 million) in Q1 2026, up 17% compared with the same period of 2025. Of the total, 81% are related to non-life insurance and 19% to life insurance.

The total value of insurers' investments, including unit-linked assets, reached RON 39.5 billion (EUR 7.74 billion), an increase of 2% compared with the end of 2025. Fixed-income instruments continued to dominate investment portfolios, with government bonds accounting for 62.9% of total investments at the end of March 2026.

The investment portfolio remained broadly unchanged during the quarter. Cash and cash equivalents totaled RON 2.4 billion (EUR 470 million), representing 6.1% of insurers' total investments.

Technical provisions under the Solvency II regime increased by 22% year-on-year to RON 27.8 billion (EUR 5.45 billion). The growth was supported by a 24% increase in non-life technical provisions and a 19% rise in life insurance provisions. At the end of the reporting period, 61% of technical provisions related to non-life insurance and 39% to life insurance.

Access xprimm.com and download the Romanian market statistics