1asig.ro
 About us  Contact  Site Map   Login   


Search
HomeInsurance marketEventsPublicationsXPRIMM TV  
 News 
 FSA 
 Insurers 
 Insurance Brokers 
 Interview of the week 










Insurance

Back

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.

"The share of the insurance market in the Gross Domestic Product increased, last year, to about 2.3%. I consider the insurance market has a very high potential and I hope that share in GDP will continue to increase. Despite the complicated times, the market behaved well, in the current context generated by the COVID-19 pandemic", said Nicu MARCU.

1asig.ro wrote here that at the end of 2020, the non-life GWP reached RON 9.28 billion, increasing by 6% y-o-y, while the life segment decreased by 2% compared to 2019, reaching the value of RON 2.22 billion.

As in previous reporting periods, the motor policies generated the largest share of Romanian insurance market: MTPL FY2020 GWP totaled RON 3.97 billion (5% more y-o-y), while the MoD segment amounted RON 2.41 billion lei, (4% more y-o-y).

The health insurance market reached, last year, the value of RON 451.45 million, which represents an increase of 18% compared to the previous year. Warranties LoB reported also an signigicant growth rate of 68%, reaching a volume of gross written premiums of RON 464.52 million.


Author: Andrei Victor on 15.02.2021




Comment this article
0 comments

Atention! "Comment" and "E-mail" are mandatory
Name:
If you are not logged on, your name will appear preceded by '(Anonymous)'. For authentication, click here
If you are logged on and you do not fill in your name, will be used the name that you used when you registered
E-mail:

Comment:
< 10.000 car.

  Security code
Fill in the code from the image:
























Copyright 2022 (c) 1asig.ro
powered by Media XPRIMM