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October 22, 2021

Insurance market dropped by 3.2 pc in Q1

The general and life insurance market has gone up by 3.2% in the last six months to 4.3 billion RON, while insurers’ compensations have dropped by 1.2% to 2.5 billion RON, according to preliminary data provided by ASF (the Insurance Supervisory Commission), as cited by Mediafax. “The best quarter for the insurance market is still the first quarter of 2008, with a total of subscribed premiums of 4.63 billion RON. The January-June 2013 interval reported the best results of the last three years, but the level of subscribed premiums in the first six months of the year is 8% below the level for the same period last year,” an ASF press release shows.
The general insurance market has gone up by 3.7% to 3.4 billion RON. Life insurance policy subscriptions have also gone up by 1% to 866 million RON. “The first 6 months of 2013 were the best quarter for life insurance policies in the last five years,” the press release notes. A total of 38 insurance companies were active on the Romanian market in the analyzed period, 20 of which were in the field of general insurance, 10 in the field of life insurance and 8 in the field of both general and life insurance.
The first 10 insurance companies cover 81.1% of the Romanian insurance market, while the three top players cover 35% of the market with subscribed premiums of 1.5 billion RON.
According to ASF data, the most important category of general insurance are RCA (vehicle liability insurance) policies, taking 37.7% of a total of 1.281 billion RON.

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