Romania’s insurance market up 8.8% in Q1
The volume of gross written premiums on Romania’s insurance market (general and life) rose to RON 2.96 billion (EUR 622 million) in the first quarter of the year, 8.8% more than in the same period last year.
The general insurance segment increased by 9.2% to RON 2.34 billion (EUR 493 mln).
The leader of this segment, City Insurance, increased its share to 23% after its revenues rose by 20.5% to RON 540 mln (EUR 114 mln).
Allianz-Ţiriac, came second, with RON 391 mln (EUR 81 mln) gross premiums, 6.4% more than last year.
Euroins ranked third with subscriptions worth RON 362 mln (EUR 75 mln), 12.3% more than last year.
Omniasig was fourth with RON 340 mln subscriptions (+6.4%) followed by Groupama with RON 254 mln subscriptions (+2.4%).
The five largest general insurance companies, which are also the largest insurers in the country, given the small size of the life insurance segment (RON 617 mln in Q1), reported cumulative subscriptions of RON 1.88 bln, or 64% of the total market.
The leader of the life insurance segment is NN Life Insurance.