Omniasig head Mihai Tecau, in turn, said 2014 will be another rough year for the insurance market, just like 2013, and Mariana Diaconescu, chairwoman of the managing board of insurance company Asirom, expects underwritten premiums on the general insurance market to stagnate.
According to the Financial Supervisory Authority (ASF), the volume of premiums underwritten on the general and life insurance segments stood at RON7.45 billion in the first eleven months of 2013, down 1.00% from the same period in 2012.
Cristian Constantinescu, former general manager of Allianz-Tiriac, thinks the evolution of the general insurance market will range between -2% and stagnation.
ASF vice-president Cornel Moldoveanu said Romania’s insurance market remains underdeveloped.
With underwritten premiums of only EUR89 per capita in 2012, Romania accounts for less than a third of the regional average of EUR333 worth of underwritten premiums per capita.