The insurance market increased last year by 8% compared to 2018, to RON 11 billion (EUR 2.25 bln), continuing the rising trend in previous years, Cristian Rosu, the vice-president of the Financial Supervisory Authority (ASF), announced at a conference, local Agerpres reported.

City Insurance was the market leader in 2019, with 17.34% of the total market and 39% of the RCA (mandatory car insurance) segment. Allianz Tiriac was second, with a market share of 12.43%, followed by Omniasig (VIG), with a market share of 11.9%, and Euroins, with 11.66% market share.

Euroins was the second-biggest player on the RCA segment, with a share of 32-33%.

"The RCA market is dominated by two players, which, from the point of view of the companies themselves, is probably a positive development of their business. However, from the supervisor's point of view, this requires a higher level of supervision. As any concentration, it can lead to an increased risk that can induce certain general risks through contagion," said Cristian Rosu.

editor@romania-insider.com

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