STATISTICS: ROMANIA, 1H2018: flat growth in total GWP, mostly due to the decrease in the MTPL business

Romanian insurers ended 1H2018 with GWP worth RON 5.04 billion (EUR 1.08 billion), a business volume which in fact demonstrates a quasi-stagnant phase. Gross paid claims amounted to RON 2.08 billion (EUR 602.6 million). Out of the 30 active players, Top 10 insurers accounted for about 88% of the market GWP.

In European currency, GWP figures show a negative y-o-y difference, given the RON 2.4% depreciation against euro. For example, total market GWP fell by about 2.3%, considering the results denominated in EUR.

Life insurance GWP amounted to RON 1.07 billion, 0.34% up y-o-y, while on the non-life side they reached RON 3.97 billion, a fairly equal level to the 1H2017 one. GWP figures don't include premiums written by branches of foreign insurers operating in Romania (FoE). Indemnities paid for life insurance totaled RON 462.47 million, down by 16% y-o-y, while on the non-life segment paid claims amounted to RON 2.34 billion, almost 20% up y-o-y.

MTPL remained the main non-life insurance line, accounting for about 38% of the sector's GWP. Premiums written for MTPL amounted to RON 1.84 billion, the remainder up to the total A10 class (about RON 80 million) representing premiums written for the carrier's insurance for the goods transported or MTPL insurance underwritten on the territory of other EU Member States based on the freedom to provide services.

At market level, the annualized average MTPL premium decreased by about 17.4% in 1H2018 compared to the same period of the previous year, amounting to RON 604 (EUR 129.6). On the other hand, the value of the average claim paid for MTPL went up by about 5%, to RON 7,542 (EUR 1,618).

Access www.xprimm.com and download the 1H2018 Romanian insurance market statistics.

  • Market indicators (GWP, claims, growth rates, shares) - in EUR and RON
  • Top 10 market rankings (total market, life, non-life, MTPL) - in EUR and RON

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

FITCH Affirms EUROINS Romania at IFS 'BB-'; Outlook Stable

FITCH Ratings has affirmed EUROINS Romania Asigurare Reasigurare SA's (EUROINS Romania) Insurer Financial Strength (IFS) rating at 'BB-', and EUROHOLD Bulgaria AD's (EUROHOLD, the group's ultimate holding company) Long-Term Issuer Default Rating (IDR) at 'B'. The Outlooks are Stable.

2018-08-06

ON THE MOVE

AIG Life announces new UK CEO

AIG U.K. Life Ltd. announced the appointment of Philip WILLCOCK - the former CEO of AVIVA's Indonesian and Italian ventures - as CEO, subject to regulatory approval, effective March 1, 2019. He will be based in London and will report to Adam WINSLOW, CEO, International, Life & Retirement.

13.12.2018

Sylva de FLUITER takes over as head of UNIQA Re AG

Sylva de FLUITER will take over as head of UNIQA Re AG in Zurich as of 1 January 2019, the Austrian group announced. Until year end she will work hand in hand with long-time Managing Director Hans Uwe MULLER, who will retire after 14 years at UNIQA Re.

12.12.2018

MERCER to name Bala VISWANATHAN Chief Operating Officer

MERCER, the consulting subsidiary of MMC - Marsh & McLennan Companies, announced that Bala VISWANATHAN, CEO of Jardine Lloyd Thompson Group plc (JLT) UK & Ireland Employee Benefits, will join MERCER as Chief Operating Officer.

12.12.2018

TOP EVENT

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all