Southeastern Europe, bordering the Black Sea, between Bulgaria and Ukraine

temperate; cold, cloudy winters with frequent snow and fog; sunny summers with frequent showers and thunderstorms

Natural hazards:

earthquakes, most severe in south and southwest; geologic structure and climate promote landslides

Currency: Leu (RON)
Currency conversions were calculed for an average exchange rate of:
RON 4.4908/EUR - in 2016
RON 4.4450/EUR - in 2015
RON 4.4446/EUR - in 2014
RON 4.4190/EUR - in 2013
RON 4.4560/EUR - in 2012
RON 4.2379/EUR - in 2011
RON 4.2099/EUR - in 2010

Insurance PROFILE
Romanian Financial Supervisory Authority (FSA)
Romanian National Bank
National Association of the Insurance and Reinsurance Companies (UNSAR)

Insurance statistics

1H2017Market portfolioxlsx
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1H2016Market Portfolioxlsx
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FY2014Market portfolioxlsx
FY2014Insurance Companies Rankingsxlsx
3Q2014Market Portfolioxlsx
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1H2014Insurance market overview pdf
1H2014Market Portfolioxlsx
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1Q2014Market Portfolioxlsx
1Q2014Insurance Companies Rankingsxlsx
FY2013Insurance market overview pdf
FY2013Market Portfolio (according FSA)xlsx
FY2013Market Portfolioxlsx
FY2013Insurance Companies Rankingsxlsx
3Q2013Market Portfolioxlsx
3Q2013Insurance Companies Rankingsxlsx
1H2013Insurance market overview pdf
1H2013Market Portfolioxlsx
1H2013Insurance Companies Rankingsxlsx
1Q2013Insurance Companies Rankingsxlsx
1Q2013Market Portfolioxlsx
FY2012Insurance market overview pdf
FY2012Market Portfolioxlsx
FY2012Insurance Companies Rankingsxlsx
3Q2012Insurance Companies Rankingsxlsx
3Q2012Market Portfolioxlsx
1H2012Insurance market overview pdf
1H2012Insurance Companies Rankingsxlsx
1H2012Market Portfolioxlsx
1Q2012Insurance Companies Rankingsxlsx
1Q2012Market Portfolioxlsx
FY2011Insurance market overview pdf
FY2011Market Portfolioxlsx
FY2011Insurance Companies Rankingsxlsx
3Q2011Market Portfolioxlsx
3Q2011Insurance Companies Rankingsxlsx
1H2011Insurance market overviewpdf
1H2011Market portfolio and rankingsxlsx
Insurance market overviewpdf
2010Market portfolio and rankingsxlsx
Romanian insurance market overviewpdf
1H2009 Market portfolio xls
1H2009 Life insurance rankingsxls
Non-Life insurance rankings
2009Romanian insurance market overview pdf
2009Market portfolioxls
2009Life insurance rankingsxls
2009Non-Life insurance rankingsxls
1H2010Romanian insurance market overview (total & main lines)pdf
1H2010Market portfolioxls
1H2010Life insurance rankingsxls
1H2010Non-Life insurance rankings (total & main lines)xls

Romania 3Q2018 Market Portfolio

Romania 3Q2018 Insurance Companies Rankings

See all statistics

Adrian MARIN, UNSAR President: I hope that the reference tariffs for MTPL will not lead to a new form of capping

"2016 was a difficult year for the Romanian insurance market. It was an year marked by the implementation of Solvency II - that brought strict demands regarding the solvability capital, regulation and quality; an year marked by the ASTRA and CARPATICA bankruptcies, two companies with more than 50% of the MTPL market and over 15% market share; an year with transporters' protests that put pressure on the MTPL pricings - resulting in the capping of the MTPL prices and, since May 2017, a new law which includes reference tariffs for MTPL policies, that, I hope, will not lead to a new form of capping", stated Adrian MARIN, UNSAR President, at FIAR 2017.

Eugene GURENKO: "International experience suggests that tariff capping brings opposite results to the objectives sought"

"Although the first quantitative impacts of the rate caps introduced last year will be only known later with the release of claims statistics for the current year, based on international experience one can expect an adverse impact of this legislative measure on the technical results for the MTPL line of business as a class, reduced overall profitability of the sector and the erosion of companies' capital base", Eugene GURENKO, Lead Insurance Specialist, World Bank explained during the "Insurance Market Trends" conference at FIAR 2017.
PAID Romania's achievements in 2016 included a 10% portfolio growth, as estimated, the transition to SII and the strengthening of its capital, a higher level of reinsurance protection, the inception of the Mass claims plan, as well as the optimization of IT system and processes, Nicoleta RADU-NEACSU, General Manager, PAID Romania - The Insurance Pool against Natural Disasters, explained during the Nat Cat&Reinsurance Conference taking place at FIAR 2017.

Carlo Tozzi SPADONI: The sooner you gather relevant information, the sooner you can settle the claim

When natural catastrophes strike, it is highly important that the claims are settled fast, so that the companies are able to restart their activities as soon as possible. Dott. Ing. Carlo Tozzi SPADONI, Co-Founder, Insurance Engineering Services, talked, during the NatCat&Reinsurance Conference at FIAR 2017, about the importance of fast claims settling, analyzing a case study from Milan.

Juan Ramon PLA: Although it's not perfect, the Insurance Distribution Directive is a balanced one

The Insurance Distribution Directive (IDD) is, as we speak, maybe one of the most sensitive subjects, so the insurance brokers, and not only them, are certain that the IDD implementation will have both positive and negative aspects, stated Juan Ramon PLA - Managing Director, Corporacion de Mediadores de Seguros, Spain Secretary General BIPAR, Member of IRSG EIOPA -, stated, during the Brokers' Conference, at FIAR 2017.

Virgil SONCUTEAN: "The private health insurance market in Romania will report two-digit growths for many years"

"In the last 2-3 years, the health insurance market in Romania reported a significant development, but it started from a small base and that is why we shouldn't be impressed by the growth percentage. But the buying intention is developing", stated Virgil SONCUTEAN, CEO, ALLIANZ-TIRIAC Asigurari, during the Health & Life Insurance Conference taking place at FIAR 2017.