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Bucharest
May 18, 2021
BUSINESS

Several foreign insurers voice interest for Romanian market

Several major insurance companies, including companies from EU states, voiced their interest in entering the Romanian market, drawn by the low penetration rates and the significant potential for growth, the chair of the Insurance Supervisory Commission (CSA), Angela Toncescu stated yesterday. “These insurers contacted us and requested information on the market, on regulations. For confidentiality reasons, I cannot give you their names. Despite the difficult context, I think it is a good time for such a decision,” Toncescu added. Currently there are 43 companies authorised to conduct underwriting activities on the insurance market, companies whose joint stock amounted, at the end of last year, to RON 4.175 bln, rising by 5.1 pc compared to 2009. According to CSA figures, foreign insurers account for 88.6 pc out of the insurance companies’ total joint stock, that is, RON 3.69 bln.

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