In 2011, local insurers had a cumulated net loss of RON325.87 million. The local insurance industry last registered profit in 2005, when cumulative net earnings stood at RON38.99 million.
In 2006-2012, net loss in the industry totaled RON1.69 billion.
In 2012, local insurers posted cumulative losses of RON522.91 million and profits totaling RON201.32 million.
The biggest losses were posted by Omniasig – RON228.16 million (25.8% higher on the year), followed by Groupama Asigurari – RON87.86 million (-14%), AXA Life Romania – RON43.84 million (+11%), Allianz-Tiriac Asigurari – RON42.74 million (from a net profit of RON24.5 million in 2011), and UNIQA Asigurari – RON19.18 million (-73.8%).
Other insurers to post losses in 2012 were Generali Romania – RON18.1 million, Eureko Asigurari – RON17.1 million, Metropolitan Life Asigurari (former Aviva Romania) – RON15.6 million, Signal Iduna Asigurari de Viata – RON10.23 million, and Gothaer Asigurari (former Platinum Asigurari) – RON8.31 million.
The most profitable insurer on the Romanian market in 2012 was Alico Asigurari de Viata – RON41.33 million (-44.2%), followed by City Insurance – RON33.68 million, Chartis Romania – RON29.22 million, ING Asigurari de Viata – RON25.18 million, and BCR Asigurari de Viata – RON24.99 million.
The top ten most profitable local insurers is completed by Asirom – RON14.88 million, Euroins – RON6.75 million, Astra Asigurari, market leader in 2012 by underwritings – 6,67 milioane de lei, Eurolife ERB Asigurari de Viata – RON4.51 million, and BRD Asigurari de Viata – EUR4.38 million.
The Romanian market is operated by 39 insurance companies.
The local insurance market declined 5.8% last year, to RON8.27 billion, after a decline of nearly 12% in 2009-2011, from RON8.87 billion to RON7.82 billion.