“In recent years, demand for consultancy services has increased, leading to the growth of brokers and of the rate of brokered premiums,” Andriescu told a news conference Thursday.
He added 2013 brought a depreciation in the relationships between brokers and insurers.
“Some insurers sought to find brokers at fault for their earnings and made surprising decisions. Clients are currently seeking increased support and advice both when buying insurance and seeking the payment of damage claims, which explains the growth in the brokerage rate,” said Andriescu.
According to preliminary data from the Financial Supervision Authority (ASF), 46.84% of insurance premiums subscribed in 2013 were brokered, up 3.2 points compared to 2012.
The value of brokered premiums for general and life insurance stood at RON3.88 billion, up 7.77% from 2012.
Revenues from brokerage activities increased 6.52% in 2013, to RON773.03 million.
The Romanian insurance market reached RON8.29 billion in 2013, just 0.4% more than in 2012, and the insurance industry’s share in the country’s gross domestic product dropped to 1.31% last year from 1.4% in 2012.