Romania

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Location map
author: OCHA/ ReliefWeb


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.

Macro indicators
* 2018 estimates
Surface:238,397km2
Population*:19.5million
Pop. density*:81.9people/km2
GDP*:202.7EUR billion
GDP/capita*:10,382.6EUR

European Union:
EU member, since 2007

Currency: Leu
Code: RON
Since: 2005


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:21%
TOTAL NON-LIFE*:79%
Overall Property*:12%
Overall Motor*:57%


Sources:


 


Statistics

Romania 1H2019 Insurance Companies Rankings

Romania 1H2019 Market Portfolio


See all statistics

Latest news

BIPAR's perspective on the IDD implementation process

Entered into force on 23 February 2016 (with implementation period starting on February 23, 2018), the IDD "repeals the IMD and is also a minimum harmonisation Directive, hence allowing to take into consideration each market specificities. The IDD seeks to improve regulation in the retail insurance market and to create more opportunities for cross-border business, to establish the conditions necessary for fair competition between distributors of insurance products, and to strengthen consumer protection", said Juan - Ramon PLA, Secretary General, BIPAR, Managing Director, Corporation de Mediadores de Seguros, Spain, Member of IRSG, EIOPA, at FIAR 2017.





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.