Romania's insurance market goes up by 7%

Local insurance companies underwrote gross premiums of EUR 1.3 billion in the first nine months of the year, up by 7% over the same period last year. They sold more mandatory car insurance policies as well as more life insurance policies, according to Romania’s Financial Supervisory Authority, reports localZiarul Financiar. Mandatory car insurance continued to be the main growth engine for the insurance market and generated underwritings of EUR 560 million during this period. They increased by over a fifth compared to the same period last year. The insurance companies paid their customers EUR 676 million worth of compensations between January and September. editor@romania-insider.com