The volume of gross written premiums in the Romanian insurance market increased by 6% in the first nine months of this year reaching RON 7.32 billion (EUR 1.5 billion), according to the Financial Supervisory Authority.

The gross written premiums in the general insurance sector amounted to RON 5.78 billion (EUR 1.2 billion) during this period, up 1% year-on-year.

The life insurance sector totaled RON 1.52 billion (EUR 327.5 million), up 30% year-on-year.

The Romanian insurance market is still dominated by the general insurance, respectively the car insurance sector. The mandatory car insurance sector (RCA) amounted to RON 2.86 billion (EUR 616 million) in the first nine months of this year. However, the life insurance segment has started going up lately.

The top ten local companies generated 88% of the total volume of gross written premiums in the first nine months.

Overall, there were more than 14 million active insurance contracts at the end of September.

editor@romania-insider.com