Romania's insurance market nears high degree of concentration, regulator says

The Romanian insurance market features a high degree of concentration, with the five largest companies controlling almost 58% of the market in the first nine months of this year, according to the latest quarterly report of the financial markets' regulator ASF. Romanian insurance companies recorded a 2.1% advance of the gross premiums written in the first three quarters, to RON 7.47 billion (EUR 1.61 billion), ASF announced last week. On December 13, ASF released new data showing that the top 10 players concentrated some 88% of the total gross written premiums of the 29 companies on the market. City Insurance, with a 13.7% share in the total gross premiums written in the first three quarters of the year, replaced Allianz-Tiriac as the market leader. Allianz-Tiriac had a market share of 13.26%. The third-largest player was Omniasig VIG, with 11.05% market share. Groupama climbed up a seat to the fourth with 10.01% and Asirom fell one seat to the fifth with 9.79% share. editor@romania-insider.com (photo source: Shutterstock)