CSA said insurers’ RON232 million underwritings account for 4.78% of overall revenue of RON6.17 billion in the insurance industry.
CSA data indicate that 12 subsidiaries licensed in other EU states like France, Germany, Belgium, Great Britain, Poland, Hungary, Austria and Sweden, operate in Romania. Two of the 12 subsidiaries, namely, France’s Chartis Europe and Hungary’s CIG Panonia, did not carry out operations.
Romania’s general and life insurance market climbed 1.43% in the first nine months of the year to RON6.17 billion (EUR1.36 billion), supported by a 1.74% increase registered on the general insurance segment to RON4.87 billion, according to CSA.
Life insurance underwritten premiums amounted to RON1.3 billion in the first nine months of 2012, up 0.3% on the year.
Revenues on the general insurance segment were generated by mandatory car insurance (RCA) premiums (RON1.6 billion), voluntary car insurance (CASCO) premiums (RON1.4 billion) and insurance against natural disasters (RON859.5 million).
According to CSA, insurers paid damages of around RON3.8 billion in January-September, up 3.9% on the year. (EUR1=RON4.5191)