Allianz-Tiriac is ranked first on the CASCO segment, with underwritten premiums of 210 million lei (EUR50 million) in the first half of 2011. It is followed by Groupama with revenues amounting to RON161 million, Omniasig (RON146 million), Uniqa (RON108 million) and BCR Asigurari (RON106 million).
Omniasing also comes third on the RCA and home insurance segments.
Astra is leader on the mandatory car insurance market with underwritten premiums of RON281 million. The company had over one million valid contracts at the end of June. Asirom and Omniasig, controlled by Austrian group VIG, registered revenues of RON197 million and RON191 million, respectively, in the first half of the year.
Astra had an aggressive increase policy on the RCA segment over the past years, while Asirom and Omniasig registered significant increases over the past six months after they reduced tariffs drastically at the beginning of the year. In 2011, tariffs on this segment dropped by up to 25% compared with last year, which caused the general insurance market to shrink 10% in January-June 2011.
Euroins is ranked fourth on the RCA segment with underwritten premiums amounting to about RON91 million in the analyzed interval. It is followed by Allianz-Tiriac with EUR82 million.
Astra is also leader on the home insurance market. It underwrote premiums of RON147 million in the first half of the year and had about 1.8 million valid contracts at the end of June. The insurer is one of the main competitors of the Pool of Insurance against Natural Disasters (PAID) – the joint insurance company that issues mandatory home insurance policies.
Allianz-Tiriac is ranked second with underwritten home insurance premiums of RON84 million. Omniasig comes third with RON55 million and is followed by Groupama and Generali with RON53 million and RON48 million, respectively.
In the first half of 2011, local insurers’ gross underwritten premiums on the property segment reached RON605 million.
Overall underwritten premiums between January and June amounted to RON4 billion, down 7.4% compared with the same interval last year, due to decreases registered on the car insurance segment, according to data released by insurance regulator CSA.
On the CASCO segment, gross underwritten premiums fell about 21% to RON996 million. The RCA segment dropped 17.5% to RON1.13 billion.
The car insurance market shrank 10% in January-June and 8.8% in the first quarter of the year. (EUR1=RON4.3295)
(English version by Ioana Tudor)