Romania’s insurance market up 8% in 2019

The insurance market in Romania recorded a volume of underwritten premiums of RON 11 billion (EUR 2.3 bln) in 2019, up 8% compared to 2018.

The largest slice of the market (79% of total) was formed by the general insurance segment, according to the information published by the Financial Supervisory Authority (ASF).

Thus, the general insurance segment reached a total volume of policies sold of RON 8.7 bln (EUR 1.83 bln), 8.5% more compared to 2018. The health and life insurance segment reached the highest level in recent years, with a subscription volume of RON 2.25 bln (EUR 473 mln) in 2019, up by 7.3% compared to 2018. Of the total premiums subscribed on this segment, health insurance contributed RON 372 mln (EUR 78 mln).

The segment of mandatory (third party) car insurance (RCA), which has the biggest share of the whole market, reached RON 3.78 bln (EUR 795 mln), 5% up from 2018. The segment is dominated by two large players, which accumulate a share of 71% on this market.

On the market of mandatory and voluntary home insurance, the volume of gross premiums subscribed in 2019 reached RON 530 mln (EUR 111 mln), increasing by 6% compared to 2018.

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