Romania’s insurance market grew by 7.39% in the first quarter of the year, to EUR 443 million. This was due to the increase in the volume of gross written premiums on the general and life insurance segments, according to the Financial Supervisory Authority.

The life insurance went up by 7.59%, whereas the general insurance increased by 7.34%.

The general insurance had a share of 79.31% in the number of total gross written premiums, whereas the life insurance had a share of 20.69%.

The gross claims decreased in the first quarter of the year by 7.98% year-on-year. The volume of gross claims paid for general insurance reached EUR 206 million in the first three months of the year, down 8.95% compared to the same period in 2014.

The volume of gross claims paid for life insurance amounted to almost EUR 10 million, up 18.91% year-on-year.

editor@romania-insider.com