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




Leslie J. BREER is the newly approved CEO of GOTHAER Romania

The Financial Supervisory Authority announced it has approved Leslie J. BREER's appointments as CEO of GOTHAER's Romanian unit. Together with Cosmin ANGHELUTA (Deputy CEO / Sales Chief Executive) - he will implement the company`s 3 yrs mid-term strategic plan, already approved by its Board of Directors in March 2019.

STATISTICS: ROMANIA, 1Q2019: Market GWP increased by 5% y-o-y

At the end of 31 March 2019, Romanian insurance market grew by EUR 27 million (+5.0%) y-o-y in terms of gross written premiums (GWP). In local currency, the premium growth was slightly higher (+7.4%), as Financial Supervisory Authority (ASF) figures show.

Romanian Group company OMNIASIG combines healthy lifestyle with environmental protection

VIG's Romanian Group company OMNIASIG has consolidated and significantly intensified its social, environmental and community commitment with a new CSR strategy. Employee involvement is a key element of the strategy. At a ceremony held in Bucharest on 6 June 2019 OMNIASIG, received the Silver "Gunter Geyer Award for Social Conscience" in recognition of its efforts.




STATISTICS: ROMANIA, 2008-2017: Motor business lines drove market evolution

Between 2008-2017, in the Romanian insurance market, MTPL was the only insurance class that maintained a positive dynamic. MTPL, together with the Life insurance segment, had the biggest influence over general market evolution. The Romanian market is still recovering after the post-crisis effects.

STATISTICS: ROMANIA, FY2018: Health insurance rose by 74.3%

Romanian insurance market recorded in 2018 GWP worth EUR 2,174 million and EUR 1,278 million in paid claims. Total GWP volume rose by EUR 92 million compared to 2017 results (+4.44%) while claims level increased by EUR 185 million (+16.97%), mainly due to motor claims increases.


ROMANIA: The insurance market increased by 4.5% in 2018

"In 2018, the Romanian insurance market improved its solvency indicators", Cristian ROSU, Vice-President Insurance and Reinsurance Sector, ASF - The Financial Supervision Authority declared on Tuesday, 21 March, commenting on the financial results reported on the Romanian market last year.



EUROINS acquires ERGO subsidiaries in Czech Republic, Romania and Belarus

Bulgaria-based Euroins Insurance Group (EIG) has made a purchase agreement with Germany-based ERGO International AG for buying 4 ERGO insurance companies. EIG will take control over ERGO's life and non-life subsidiaries in Romania and Czech Republic, as well as the non-life company in Belarus.

EIG: The prudent approach applied in Romania, influenced the year-end group indicators

Bulgarian financial group EUROHOLD said its revenues from insurance activity at the end of December 2018 amounted to BGN 985.3 million (EUR 503.8 million), 2% less y-o-y. The insurance operating expenses for the period under review increased by 0.6% y-o-y to BGN 924.9 million (EUR 472.9) compared to BGN 919.2 million at the end of 2017.

Bogdan BICHINET to join GENERALI Romania as CFO

Bogdan BICHINET will join the management team of GENERALI Romania as Member of the Board and Chief Financial Officer - CFO starting March 1st, after this week the Board of the Romanian Financial Supervisory Authority (ASF) approved its appointment.