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Insurance Intelligence

Providing expert analysis, independent market insight and company data on the insurance industry.

Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.

Axco’s Romania Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.

The Life & Benefits Report for Romania includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

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Information for Romania can be seen in:

Insurance Market Reports (Non-Life) Insurance Market Reports (Life & Benefits) Employee Benefits Reports Global Statistics Regulatory Alerts Insight Compliance Market Profiles Insight EB Compliance Point Clinical Trials Axco API

Country Information

Capital city
Real GDP growth (%)
Inflation (%)
latest GWP
Insurance Penetration (%)
GMT +2
19.24 mn (2020)
239,451.14 mn
2,590.23 (mn)

Romania is one of the 6 countries bordering the Black Sea, and occupies the north-east corner of the Balkan peninsula. It has a land mass of 237,500 sq km, with a mostly mountainous and wooded centre, and a flatter outer rim. The insurance market is characterised by quite low insurance penetration, possibly as a result of post-Communist economy and a lack of insurance awareness in the public. 

In 2018 total gross written premiums (life and non-life) were RON 10.14bn. Non-life (excluding personal accident and healthcare) accounted for RON 7.64bn. Motor is the largest class.

There were 28 insurance companies authorised to operate in the Romanian market in 2018. Of these six were composites, 15 were non-life companies and seven were life insurers. There were also 11 branches authorised in other EU member states conducting their activity (non-life and life) in Romania under freedom of establishment.

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