Total damage claims paid for general insurance policies in the first six months of 2011 represents 67.3% of gross premiums underwritten on this segment, which dropped 10%.
Voluntary car insurance CASCO gross underwritten premiums dropped 20.83% in January-June compared to the same interval a year ago, to RON996 million. Mandatory car insurance RCA premiums fell 17.49% to RON1.13 billion.
Overall car insurance premiums in the first half of the year stood at RON2.13 billion, down 19.1% from the same interval a year ago.
The general insurance market dropped 10.08% to RON3.16 billion in the analyzed period, due to the decrease registered on the car insurance segment.
On the life insurance segment, insurers underwrote gross premiums amounting to RON860 million in January-June, up 3.81% compared to the same interval in 2010. Revenues on the traditional life insurance segment increased 3.35%.
Overall gross premiums on the general and life insurance segments decreased by 7.43% to RON4.02 billion in the first six months of the year.
About 50 insurers operate on the Romanian market. Insurer Asta is market leader by premiums underwritten in 2010 and is followed by Allianz-Tiriac.
(EUR1=RON4.2449)