The non-bank financial sector’s share of the GDP has risen slightly in the last few years, reaching a new high 13.59% in 2020. The value of the assets as a share of the GDP dropped to 11.38% in the first quarter of last year, when the COVID-19 pandemic broke out. The decline was offset by the end the year, according to the report.
Insurance penetration remained low, at 1.17% of the GDP at the end of last year, while insurance density stood at RON630 per capita.
(English version by Loredana Fratila-Cristescu)