Romania's insurance market records first year of growth after the crisis

Local insurance companies underwrote gross premiums of EUR 2 billion last year, up by 8% compared to 2014, according to the Financial Supervisory Authority (ASF). The insurance market saw the first increase after the financial crisis. Companies recorded a profit both on the general insurance, as well as on the life insurance segment, reports local Ziarul Financiar. The distribution costs went down whereas the compensation ratio also dropped by 5 percentage points in 2015. The combined ratio, namely the claims and expenses relative to premiums written, dropped by 10 percentage points compared to the previous year, but remained above par, at 118%. editor@romania-insider.com