Romania

Location:
- Southeastern Europe, bordering the Black Sea;
- Neighbours: Bulgaria, Serbia, Hungary, Ukraine, Moldova.

Climate:
- temperate climate;
- cold, cloudy winters with frequent snow and fog;
- sunny summers with frequent showers and thunderstorms.

Natural hazards: - earthquakes, most severe in south and southwest regions;
- geologic structure and climate promote landslides.

European Union:
EU member, since 2007


Currency: Leu
Code: RON
Since: 2005

Currency conversions were calculated for an average exchange rate of:

1 EUR = 4.6639 RON (2018)
1 EUR = 4.5681 RON (2017)
1 EUR = 4.4908 RON (2016)
1 EUR = 4.4450 RON (2015)
1 EUR = 4.4446 RON (2014)
1 EUR = 4.4190 RON (2013)
1 EUR = 4.4560 RON (2012)
1 EUR = 4.2379 RON (2011)
1 EUR = 4.2099 RON (2010)


Sources:


Flag



Location map
author: OCHA/ReliefWeb


 


Statistics

Romania FY2018 Market Portfolio

Romania FY2018 Rankings

See all statistics

Latest news


The 20th edition of FIAR: A new location, conferences & workshops held by international specialists, hundreds of bilateral meetings

Taking place between May 21 and May 25, in a new location - Poiana Brasov in Romania - the 20th edition of the International Insurance-Reinsurance Forum - FIAR gathers well-known specialists representing over 125 international companies and offers its participants the chance to join specialized conferences and workshops analyzing the latest trends in the insurance, reinsurance and brokerage fields, as well to participate at networking events and bilateral meetings which will enable them to discover new business opportunities and to gather valuable insights and experience.



CertAsig largest insurance policies for ROMANIAN companies at EUR 77.8 mln in Q1 2017

Insurance company CertAsig registered the top insurance policies in a civil liability for a Romanian utility aviation company, for a technical insurance of a logistics company from Romania and an insurance policy for a infrastructure construction company from Romania, all of them amounting to EUR 77.8 million in the first quarter of 2017.






STATISTICS: ROMANIA: The insurance market exceeded last year its historic peak in GWP terms

The Romanian insurance market continued its sustained growth trend in 2016 as well, reaching a GWP volume of RON 9.38 billion (or EUR 2.1 billion), 10% more y-o-y. The non-life insurance segment recorded an increase of 11% compared with 2015, while life insurance went up by 6%. The maximum growth rate over the previous year was recorded in health insurance, with approximately 95%.

What will bring FIAR at its 20th anniversary edition?

This year FIAR - The International Insurance-Reinsurance Forum will see its 20th anniversary edition, celebrating not only a remarkable longevity, but also the long standing business relations - many of them established during the last two decades on its grounds. Besides a new location, situated in the most elegant Romanian mountain resort, the Forum will line up several conferences and an exquisite team of speakers.


PAID Romania - the national pool for disaster insurance -, is prepared to successfully assist the mandatory household policy owners in case a major earthquake will hit the country. Currently the PAID portfolio numbers 1.7 million mandatory household insurance policies PAD, covering about 20% of the Romanian housing stock.

New players on the Romanian MTPL insurance market

The Irish Euro Insurance DAC (commercial name LeasePlan Insurance) has received the Romanian Financial Supervisory Authority's positive answer for providing MTPL insurance in Romania, based on the EU FOS rights.

DallBogg - the second big Bulgarian insurer to enter Romanian MTPL market

The Romania's Financial Supervisory Authority - ASF announced, based on the FOS agreement, it has authorised Bulgarian insurer DallBogg to provide MTPL policies on the Romanian market. It is worth to mention that DallBogg becomes the second Bulgarian insurer operating on the Romanian MTPL market, after EUROINS - the market leader.

5% increase for the Romanian MTPL market in 2016

The Romanian MTPL insurance market has continued its ascending trend in the last quarter of the last year, reaching GWP of RON 4.03 billion for the full year of 2016. The number of MTPL contracts went up to 4.98 million, in annual units, 5% more y-o-y, according to the Romanian FSA data.

Romanian FSA's head, Misu NEGRITOIU exchanged views with the Austrian insurers' representatives in Vienna

Misu NEGRITOIU, President of the Romanian Financial Supervisory Authority (ASF), met last week in Vienna representatives of the Insurers' Association of Austria (VVO), the meeting focusing on the latest developments on the insurance markets in the two countries, as well as specific aspects related to the MTPL business line or Austria's experience in managing the high-risk insured persons.