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Insurance

French insurer AXA is active on Romanian health insurance market after a partnership with MEDIHELP

MEDIHELP International and AXA Partners, with the support of AXA Global Healthcare - announced an strategic partnership offering to Romanian insureds new private health insurance with international coverage, with a limit of up to EUR 3 million - depending on the chosen plan among five plans - informed www.1asig.ro here. more...

Generali Romania introduces new services to improve customers' claims experience

Generali Romania further simplifies the compensation processes with the help of new digital tools and dedicated partnerships, in order to shorten the time necessary to solve the claims and thus improve customers' claims experience. more...

Romanian ASF: The insurance market grew by 5% in 2020, to RON 11.5 billion

In 2020, the gross premiums written by the Romanian insurance companies reached RON 11.5 billion (~EUR 2.3 billion), increasing by approximately 5% compared to the previous year, declared Nicu MARCU, President of ASF - Financial Supervisory Authority cited by Romanian insurance news portal www.1asig.ro. more...

ASF fined the management of the largest Romanian insurer EUR 780 k

The ASF Board decided to fine the Management Board and the Supervisory Board of the Romanian largest insurer - CITY Insurance with a total RON 3.78 million lei (almost EUR 780 k), because fallowing a control, the insurer failed to submit the requested documents in due time, as the Romanian insurance news portal www.1asig.ro informed. more...

Romania: health insurance expected to further grow in 2021, especially on the corporate segment

Except for the eventuality of the Covid-19 health crisis worsening, Romanian insurers display a moderate optimism with regard to the market evolution this year, hoping for a 5% to 10% growth throughout the year, top market professionals have revealed yesterday at the market gathering organized by XPRIMM. more...

Romania: introduction of the mandatory direct reimbursement procedure in motor insurance is the hot spot for 2021

Despite the challenging pandemic context, Romanian insurers managed to end 3Q2020 with an overall GWP growth of 4.8%, Cristian ROSU, Vice President for the Insurance - Reinsurance Sector within the market supervising authority (ASF) said on the occasion of the traditional forecast meeting organized by XPRIMM each year. more...

Romania: ASF fined the two largest MTPL insurers

Following the control actions conducted by ASF, CITY Insurance and EUROINS Romania - the two insurers accounting for almost 75% of the MTPL insurance portfolio in Romania - were sanctioned by the local insurance market supervisor, www.1asig.ro wrote. more...

Romania: ASF fined small insurer ASIMED and withdrawed the company's operating license

The Financial Supervision Authority (ASF) fined local non-life insurer ASIMED RON 50,000 (about EUR 10 k), withdrew the operating license, declared the insolvency and asked for the bankruptcy of the insurer, wrote profit.ro here. more...

DELOITTE assisted VIG in taking over AEGON's units in Hungary, Poland, Romania and Turkey

DELOITTE assisted the Austrian insurer VIG in taking over the units of the Dutch financial group AEGON in Hungary, Poland, Romania and Turkey, informed the Romanian insurance news portal www.1asig.ro here more...

STATISTICS: Romania, Q3: Two insurers control almost three quarters of MTPL market

In the first 9 months of 2020, the insurance market in Romania posted GWP of RON 8.52 billion (~EUR 1.74 billion), increasing by approximately 4.77% y-o-y, shows in the report published at the end of December by Romanian ASF - Financial Supervisory Authority, according to the Romanian insurance portal www.1asig.ro here. more...

ROMANIA: Agreement signed for the takeover of Gothaer Asigurari Reasigurari by Allianz-Tiriac Asigurari

Allianz-Tiriac Asigurari and Gothaer Group have announced the signing of a purchase agreement regarding the takeover of Gothaer Asigurari Reasigurari, this being the first acquisition of an insurance company made by Allianz-Tiriac after more than 25 years of organic growth. more...

ROMANIA, MTPL: The direct settlement clause may become mandatory

The MTPL legislation in Romania is in the process of being amended, the insurance portal 1asig.ro wrote here. more...

STATISTICS: ROMANIA, 1H2020: The market grew 3.5%; Motor insurance increased by 2.2% despite pandemic restrictions on movement

Between January-June 2020, the insurance market of Romania totaled RON 5.6 billion (~EUR 1.2 billion) in gross written premiums (GWP), 3.5% more in local currency (+1.2% in EUR) when compared to the same period of prior year. The overall claims paid went up to RON 3.3 billion (down to EUR 691 million), 1.5% more in local currency (-0.8% in EUR). more...

ROMANIA, UNSAR-IRES study: 9 out of 10 Romanians say that climate change is real

90% of Romanians believe that climate change is a real fact, according to the latest sociological research conducted by UNSAR in partnership with IRES. The percentage is similar to the one that emerges from the analysis made in the previous year, a sign that Romanians continue to be concerned about the reality of climate change. more...

ROMANIA, Private Pensions, Pillar II, H1 2020: payments of RON 71.25 million for 5,188 participants and beneficiaries

The value of the total assets under management, at the level of the entire Romanian private pensions system, has reached the amount of RON 68.57 billion, at the date of 30.06.2020, exceeding in European currency equivalent the value of EUR 14 billion, increasing by 6.31%, as compared to December, 2019. more...

Romanian FSA authorised NN Asigurari as non-life insurer and aprooved its management

The Romanian new created non-life insurer NN Asigurari, part of Dutch NN Group received from the Financial Supervisory Authority - the authorization to operate as non-life insurer on local market. more...

ROMANIA: The MTPL policy to be valid also in digital format

After a series of debades on the way a driver can prove the alidity of MTPL policy, on August 26th, the Council of the Romanian Financial Supervision Authority approved the changes and amended the Norm no 20/2017 on MTPL insurance in Romania. more...

ROMANIA: The insurance market exceeded RON 6 billion at the end of June

The Romanian insurance market had an evolution above expectations in the first half of 2020, exceeding the threshold of RON 6 billion, said Cristian ROSU, Vice President on Insurance - Reinsurance, FSA (Financial Supervisory Authority), wrote www.1asig.ro here. more...

Who were the winners of the 20th edition of the Romanian Insurance Market Awards Gala?

The 20th edition of the Romanian Insurance Market Awards Gala took place on Wednesday, 26 August, in an original format, which focused on maintaining all the safety requirements imposed by the threat of the global COVID-19 pandemic. The traditional event, organized yearly by XPRIMM, celebrates the best results of the local insurance companies, as well as the most innovative products and the best insurance professionals activating on the Romanian market. more...

Carmen Daniela RADU reappointed President of the Romanian Policyholders Guarantee Fund

Carmen Daniela RADU was appointed by the Financial Supervisory Authority for a second five years term as President of the Council of Administration at The Policyholders Guarantee Fund (FGA). Her mandate will start on August 27, 2020. more...

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