STATISTICS: ROMANIA, 3Q2018: the almost 7% decrease on the MTPL line hardly offset by increasing business on othe non-life classes

Romanian insurers ended the first three quarters of 2018 with GWP worth EUR 1.6 billion, 0.7% up y-o-y, while paid claims have increased by 13.1%, to EUR 918 million. Given the national currency's depreciation against Euro, the results denominated in RON show a better dynamics.

GWP for life insurance went up overall by 2.5%, to EUR 340.7 million, resulting from the conbined effect of the 9.26% GWP increase for the "annuities and supplementary insurance" class and the 18% fall in the premiums written for Unit-Linked products.

The non-life insurance segment saw a rather stagnant evolution in 3Q, as the 6.85% decrease in the MTPL GWP was hard to offset by the GWP increases seen on other lines of business. Among the classes with the best positive evolution, Motor Hull insurance placed the best performance, with GWP increasing by 8.22%, to EUR 327.34.

In market hierarchi terms, there was a single significant change - EUROINS currently ranking 6th, down from the third position in 3Q2017. Consequently, the Top 3 composition is now the following: CITY Insurance ranks first (13.7% market share), closely followed by ALLIANZ-TIRIAC (13.26%) and OMNIASIG-VIG (11.05%).

Access www.xprimm.com and download the 3Q2018 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

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.

2019-03-21

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.

2019-02-28

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

Bulgaria: Boiko ATANASSOV appointed as FSC's head

The Parliament of the Republic of Bulgaria appointed Boiko ATANASSOV as Chairperson of the Financial Supervision Commission (FSC) on March 15, with 134 votes in favour, none opposed or abstained.

21.03.2019

TOP EVENT

Climate and cyber: two Cs with catastrophic potential and the insurance business - under debate in Vienna, on April 9

10 years after its inception, the Romanian mandatory dwelling insurance system has progressed and PAID, the pool underwriting and managing the mandatory policies is a strong and financially sound institution. "We are currently managing a reinsurance program worth EUR 920 million, with a pool of excellent reinsurers, more than half of them rated AA+, while the company's solvency rate is of 220%," recently stated Nicoleta RADU, CEO, PAID.

21.03.2019

Conclusions: TBILISI - the first Georgian International Insurance Conference

The first Georgian International Insurance Conference took place on 14 March 2019. The event put under scrutiny the current status and the future development perspectives of the local market, in an attempt of identifying the main growth opportunities. The forthcoming launch of the mandatory MTPL system was the most important topic on the agenda, as this new line of business has the potential to provide for a significant growth, but also to become a market disruptor.

14.03.2019

See all