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