Starting July 1, 2018, the President of Directorate at position of ASIROM VIG (Romania) will be taken over by Cristian IONESCU. He will replace Mr. Juraj LELKES whose mandate ends on June 30, 2018.

The Romanian insurance market in Romania continued its growth trend in 2017, the local industry totaling RON 9.7 billion (EUR 2.1 billion), 3.5% more than in the previous year.

Among the decisions adopted by the Romanian Financial Supervisory Authority (FSA) Board at its meeting on 7 March 2018, the appointment of Cosmin ANGHELUTA for a new mandate as Deputy General Manager of Gothaer Asigurari Reasigurari was also validated.

Starting January 2018, Cristian FUGACIU, CEO of MARSH Romania is heading the global broker's business in the Central Europe, comprising 7 of the 17 insurance markets that form the CSEE Region (Central & South Eastern Europe).

COLONNADE Insurance, part of the Canadian group FAIRFAX Financial Holdings, officially begins its activity in Romania, following AIG's entry into a strategic partnership with COLONNADE Insurance to manage existing policies for AIG Europe Limited's Romanian Branch.

The Romaninan insurance brokers mediated GWP worth RON 4.62 billion (EUR 1.02 billion) during the first nine months of 2017, 1,25% more y-o-y. Non-life premiums totaled RON 4.48 billion, while the value of mediated premiums related to life segment was RON 140.78 million.

The Romanian insurance market continued its growth trend in 3Q 2017, according to the most recent statistics published by ASF. Local insurers reported 3Q GWP of RON 7.32 billion (EUR 1.61 billion), 6% more than in the same period of the previous year.

WATFORD Insurance today announced its intention to establish a branch to launch insurance operations in Romania, focusing mainly on the MTPL and ancillary insurance products sale, but other retail products such as residential property insurance may also be offered.

Romania is a key-market for VIG, the Austrian group taking the commitment to be a long-term investor on the local insurance market, the VIENNA Insurance Group representatives stated on Monday, December 4th, during a press conference.

ATRADIUS - the second largest provider of credit insurance in the world, announced it expanded its international presence with two new locations in Bulgaria and Romania, as a part of the company's global expansion strategy.

PensionsEurope believes that private pension saving should be encouraged to compensate for potential lower state pension benefits. In particular, we support a regulatory environment encouraging workplace pension membership, Matti LEPPALA, Secretary General CEO, PensionsEurope & Chair, OPSG of EIOPA stated on 16 May, at FIAR.

Are the insurers and the brokers ready for the GDPR challenge? What effects will GDPR have on the Romanian insurance industry and on consumers? What are the main issues in implementing GDPR? These were just a few of the topics debated during the GDPR Workshop taking place at FIAR 2018.

The second part of the REINSURING NATCAT RISKS Conference taking place at FIAR 2018 focused on the best solutions for closing the NatCat insurance gap. Christian KREUTZER, Head Market Underwriting CEE, Swiss Re Europe, and Evgeny POTOKOV, Senior Underwriter South Eastern Europe, SCOR Global P&C Deutschland were among the speakers that joined the debates.

NatCat exposure versus coverage, the largest natural catastrophe risks affecting Europe, as well as the best solutions for closing the insurance gap were just a few of the topics analyzed during the REINSURING NATCAT RISKS Conference taking place at FIAR 2018.

The second day of debates at FIAR 2018 started with The Brokers' Conference, the event dedicated to the mediation market in Romania and in the CEE region. The first part of the conference focused on a market overview and also analyzed the challenges of the IDD implementation, as well as the potential impact of IPID for MTPL and PAD.

The 21st edition of the International Insurance-Reinsurance Forum was officially opened on Monday night, with the XPRIMM Reinsurance Awards.

The INSURANCE IN A DIGITAL WORLD Conference, taking place at FIAR 2018, brought into debate the impact of digitization on the insurance industry. The first part of the conference focused on risks & opportunities of digitalization for both industry and consumers, as well as case studies and best practices: BigData & IoT, BlockChain, Peer-to-Peer, and AI.

During the second part of the Insurance Market Trends Conference, taking place at FIAR 2018, the debates focused on the current situation in Romania and the sustainable development for a growing and stable insurance market, as well as the challenges and opportunities for the local insurers.

The first part of the Insurance Market Trends Conference taking place at FIAR 2018 brought into debate the changing insurance landscape, as well as the CEE markets in the European insurance landscape, but also the concept of mutual insurance and its benefits for shareholders.