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Insurance

Genagricola has invested in Romania targeting forests

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STATISTICS: ROMANIA, 1Q2018: life insurance business slightly slowing down after the outstanding 2017

Romanian insurers ended Q1 with GWP worth RON 2.53 billion (EUR 543.2 million), 1.45% less y-o-y. Gross paid claims amounted to RON 1.23 billion (EUR 264 million). Out of the 30 active players, Top 10 insurers accounted for about 89% of the market GWP. more...

Romania: mutual insurers one step closer to become reality

On 28 June the Romanian Government has approved the draft Law on Mutual Insurance Companies, which will be shortly sent to the Parliament for debates and approval. more...

ROMANIA: Home insurance remains niche product

Cristian IONESCU is the next President of Directorate of the Romanian ASIROM VIG

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. more...

STATISTICS: Romania, FY2017: the growth trend was maintained by the life insurance segment

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. more...

Romania: FSA approves Cosmin ANGHELUTA'S appointment for a new mandate as Deputy General Manager of Gothaer

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. more...

Cristian FUGACIU, CEO, MARSH Romania took over the management of MARSH operations in Austria and Hungary

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). more...

COLONNADE Insurance to start operations in Romania

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. more...

ROMANIA: Top 10 insurance brokers accounted for nearly half of the mediated GWP in 3Q2017

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. more...

STATISTICS: Romania: CITY Insurance and EUROINS accounted together for about 60% of MTPL market

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. more...

WATFORD Insurance has announced its intention to enter the Romanian insurance market

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. more...

Romania, a key-market for VIG

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. more...

ATRADIUS enters Romanian and Bulgarian markets

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. more...

Romania should stay the course - funded private pensions the key to sustainable future, PensionsEurope warns

After the Romanian government has decided to cut the contributions to pillar II to 3.75% (instead of raising to 6% from the actual 5.1% as mentioned in the initial draft bill), people in Romania are now facing a significant risk of suffering a decrease in their future retirement income, PensionsEurope warns. more...

Romania: Reducing the contribution for second pension pillar will lead to a significant decrease of the pension's value for a high number of participants - AURSF

AURSF - The Association of Romanian Financial Services Users warns about the consequences of reducing the contributions for the second pension pillar, the action leading to a significant decrease of the pension's value for an extremely high number of participants. more...

Romanian ASF approved the merger between BCR Asigurari de Viata and AXA Life Insurance

The Romanian Financial Supervisory Authority's Board (ASF) announced it approved the merger operation by which BCR Asigurari de Viata VIG (the second largest life insurer in the country), will absorb AXA Life Insurance, as well as the portfolio transfer as a result of the merger. more...

ROMANIAN Transilvania Broker raises RON 9.6 milion in IPO

Romanian insurer Transilvania Broker raised 9.6 million lei (USD 2.5 million/2.1 million euro) through an oversubscribed initial public offering (IPO) of a 25% stake and might start trading on the Bucharest Stock Exchange (BVB) at the beginning of November, the bourse said on Thursday. more...

Euroins Romania cuts stake in Bulgaria's Synthetica

Bulgarian financial and insurance services provider Synthetica said on Friday that insurer Euroins Romania has decreased its stake in the company to 7.01%. more...

STATISTICS: ROMANIA, 1H2017: insurance market maintained its growth momentum

Romanian insurers reported a total GPW of RON 5.04 billion (about EUR 1.10 billion), up 8.02% y-o-y, in 1H2017, according to data published by ASF, the market maintaining its growth momentum. more...

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