Romania’s insurance market up 8% in Q1
Romania’s insurance market recorded gross written premiums of RON 2.73 billion (EUR 600 million) in the first quarter of the year, up 8% year-on-year, according to the Financial Supervisory Authority (ASF).
The general insurance sector saw an annual increase of 1% during this period whereas the life insurance sector went up by 35.8% year-on-year.
The car insurance premiums accounted for 73.3% of the total gross written premiums in the general insurance sector and 56.45% of the total gross premiums written by insurance companies in the first quarter of this year.
There were 31 insurers active on the local market at the end of March, 17 of which were active only in the general insurance sector and 7 of which operated only on the life insurance segment.