Romania Insurance Sector Report 2017/2018An EMIS Insights Industry Report
EMIS is an ISI Emerging Markets Group Company Date: August 2017
Available in: English
The insurance sector in Romania remains heavily underdeveloped, with the ratio of gross written premium (GWP) to GDP at 1% for non-life insurance and 0.2% for life insurance. The core of the insurance market continues to be motor vehicle insurance with 44% of the market in 2016. Within the motor vehicle insurance category, motor third party liability (MTPL) insurance has experienced especially substantial growth, with its compound annual growth rate (CAGR) at 19.2% in the years 2012-2016. Driven by continuously increasing new passenger car registrations and price fluctuations, the market has become highly volatile and has pushed several companies into bankruptcy in the last two years. Thanks mainly to the significant growth of the MTPL market, the non-life insurance segment grew at a CAGR of 4.6% from 2012 onwards and represented 82.2% of the country’s total GWP in 2016. The remaining 17.8% was generated in the life insurance subsector, whose share has been shrinking – and whose GWP even dropped at an average of 1% pa between 2012 and 2016. Employment in the insurance and pension funds industry accounted for 0.23% of the country’s total employment in 2016.
This report provides a complete and detailed analysis of the insurance sector for Romania. EMIS Insights presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.
What this report allows you to do:
- Understand the key elements at play in the insurance sector in Romania
- Access forecasts for growth in the sector
- View key data on insurance premiums and claims in Romania.
- Crystallise the forces both driving and restraining this sector in Romania
- Assess market share for the life insurance, non-life and reinsurance sectors
- Ascertain Romania’s position in the global sector
- Understand the competitive landscape and who the major players are
- View M&A activity and major deals
- Gain an understanding of the regulatory environment for the sector in Romania
- Build a clear picture of trends and issues for sub-sectors (life insurance, non-life insurance, reinsurance) and for retail channels.
See below for a complete table of report contents: