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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Romanian non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Romania's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Romania non-life (P&C) market as well as trends by line of business. Axco analysts also report on Romania's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Romania's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Romania, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Romania, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Romania with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
The Romanian non-life market continues to be dominated by issues relating to MTPL which is not unexpected given motor lines presently account for 71.1% of the non-life market (including PA and healthcare). MTPL has a 45.1% share and motor casco has a 26.0% share. Motor business has regularly reported a combined ratio in excess of 100%, and market sources advised that this was also the case in 2020.
In the years leading up to 2016, poor pricing ....
This is a brief extract of information; more updated information may be available in the latest published report.