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Romania: Only 7 insurers remained active on MTPL market after the voluntary exit of the smallest one and the opening of the bankruptcy procedures against the biggest

The Council of the Romanian Financial Supervision Authority (ASF) decided las week to approve the upon request, the exit of UNIQA Asigurari from Romanian MTPL insurance market, wrote www.1asig.ro here.

Previously, UNIQA Asigurari informed in September, that it intended to exit this market segment, and, in this context, has already submitted to the ASF a request.

At the request of 1asig.ro, UNIQA mentioned stated that the company's main objectives are to reduce the impact of MTPL policies in the portfolio and the development of non-motor policies.

Thus, after the withdrawal of the authorization of the largest MTPL insurer (CITY Insurance, 46,3% at end-June 2021) and the exit of the insurer with the lowest market share in MTPL market (UNIQA Asigurari, <1% market share), on the Romanian Motor TPL segment, a market of EUR 900 million / year, remained active only seven insurers: Euroins Romania, Allianz-Tiriac, Asirom VIG, Omniasig VIG, Generali Romania, Grawe Romania and Groupama Asigurari.

Author: Andrei Victor on 01.12.2021

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