About us  Contact  Site Map   Login   

HomeInsurance marketEventsPublicationsXPRIMM TV  
 Insurance Brokers 
 Interview of the week 



STATISTICS: ROMANIA, FY2019: Motor insurance lines determined market hierarchy and trends

Romanian insurance market saw a 5.6% y-o-y growth in 2019, to EUR 2.29 billion. Life insurance sector's growth pace stayed at 4.7% y-o-y, while on the non-life side, GWP went up by 5.87% y-o-y. Yet, despite the different dynamics, the shares in the market portfolio of the two segments remained almost unchanged y-o-y.

In fact, the entire portfolio structure only saw minor variations. The only changes exceeding 1 percentage point of share were seen on the life insurance segment, where the "annuities and supplementary insurance" class has lost 1.7 p.p., mostly on behalf of the Unit-Linked line, which gained 1.16 p.p. in portfolio weight. It is worth noting that the UL line recorded a 30.23% y-o-y growth in premiums, to EUR 141.16 million, while paid indemnities (including surrenders) went down by almost 10%, to EUR 106 million.

Non-life insurance lines have recorded, except for the health insurance line, a positive dynamic. Total GWP reached EUR 1.82 billion, with about EUR 101 million more than in 2018. About 70% of this positive difference was provided by motor insurance lines: Motor Hull (+EUR 40 million, 9% increase y-o-y, to EUR 485 million); MTPL (+EUR 32 million, 3.95% increase y-o-y, to EUR 834 million). Yet, one should also note that motor lines also have seen an almost 14% increase in the claims paid. On both motor lines, claims expenses increased significantly at a higher pace than premiums (17.6% vs. 9% for Motor Hull and 12% vs. 3.95% for MTPL).

Property insurance line saw a 7.3% increase in GWP, to EUR 280.7 million. At the same time, paid claims grew by an impressive 65.4% y-o-y, to EUR 77.36 million.

CITY Insurance, the absolute leader on the MTPL market, also tops the overall market ranking, with a market share of 17.34%, almost 3 p.p. over last year. ALLIANZ-TIRIAC ranks second, with 12.43% market share, followed by OMNIASIG VIG (11.90%).

Access xprimm.com and download the latest Romanian insurance market statistics.

Author: Daniela GHETU on 09.04.2020

Comment this article

Atention! "Comment" and "E-mail" are mandatory
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

< 10.000 car.

  Security code
Fill in the code from the image:

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