Vasile said the RCA market is characterized by the buyer’s choice of price and, he added, the strong growth of the online market kept prices at a certain level and even lowered them compared to the previous year.
Safety Broker, one of the top ten leading players on the profile market, brokered premiums of some EUR23.5 million in the first nine months of 2012, up nearly 50% from the same period in 2011. RCA accounted for 62% of brokered premiums, voluntary car insurance CASCO for 23% and property insurance make up 9.2% of the company’s turnover.
The average annualized premium on the RCA segment stood at 455 lei (EUR103) in the first nine months of 2012, down 4% from RON472 in the same interval a year ago, according to Romanian insurance market regulator CSA.
Underwritten premiums on the RCA segment increased 5% in January-September 2012, to RON1.52 billion. Damages paid on this segment increased 9% to RON1.29 billion.
In the first nine months of 2012, 11 insurers were authorized to issue RCA policies. The top three insurers on this segment were Euroins, with a market share of 19.22%, Astra – 15.48% and Asirom – 12.05 %, according to CSA. (EUR1=RON4.3877)