INSURER
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Major Insurers Settled EUR1B Claims In 2012
The members of the National Union of Insurance and Reinsurance Companies in Romania (UNSAR) settled 4.4 billion lei (EUR1 billion) in general insurance claims last year, up 7% on 2011.
Foreign-Owned Insurers Cut Exposure To RCA Segment By One Third Since 2008
The six largest Romanian general insurance companies controlled by powerful European groups have reduced their market share on the mandatory car insurance segment RCA by one third over the p...
Major Insurers Switch To Negative Yields On Decline Of Deposit Interest Rates
The top ten insurers last year had negative yields for the first time after 2008, with problems at the top of the ranking indicating the difficult situation faced by this crisis-stricken ind...
Capital Increases Of EUR380M For Banks, Insurers In First Four Months Of 2012
Foreign banks and insurers have contributed more than EUR380 million to the capital of their local subsidiaries since the beginning of this year to offset the losses caused by the sales decl...
EUR84M Worth Of Life Insurance Contracts Cancelled By Policyholders Last Year
Life insurance companies lost several tens of thousands of accounts last year, as they were closed by customers who needed the money after seeing their income shrink because of the difficult...
Insurers Might Determine Capital Needed To Cover Damages Using Subscription Estimations
Romanian insurers that issue natural disaster relief policies will determine the capital needed to cover loses based on estimations regarding underwritten premiums and reinsurance, according...
UNIQA Asigurari Names Romeo Jantea As Vice-President
Romanian insurer UNIQA Asigurari appointed Romeo Jantea in January to the position of vice-president, replacing Alfred Vlcek, the company said in a press release Wednesday.
Insurers Need 1m Clients, Premiums Of EUR250M To Join Social Health Insurance System
To join the Romanian social health insurance system, private insurers must be authorized by the Insurance Supervision Commission, must have signed up at least one million clients, with premi...
Insurers To Face Penalties If They Breach Car Insurance Policy Terms
Insurers failing to observe the terms stated in mandatory car insurance policies (RCA) will have to pay damages to policyholders, Romanian insurance regulator CSA said in a press release Wed...