UNSAR members’ underwritten premiums account for about 82% of the overall insurance market.
The life insurance segment continues to be the dynamo of the insurance market, UNSAR said in a press release. Life insurance underwritten premiums stood at RON1.1 billion in January-September 2011, up 8.2% compared with the same interval a year ago. They account for 22.5% of the insurance market, from 19.8%, reads the press release.
UNSAR representatives said the good results registered on the life insurance segment were generated by sales of policies with guaranteed yield (63% of the total). Unit linked insurance policies stood at 37% of UNSAR members’ portfolios.
On the other hand, the general insurance segment continues to lose ground. Underwritten premiums stood at RON3.8 billion in the first nine months of the year, down 8.2% compared with the same interval in 2010.
Underwritten premiums on the car insurance segment account for 68% of the general insurance market. Voluntary car insurance CASCO and mandatory car insurance RCA segments registered a decline of 24% and 16.5%, respectively.
Gross underwritten premiums on the voluntary home insurance segment surged 91% in the first nine months of the year. The number of policies doubled to 4.5 million policies at the end of September 2011 from about 2 millions end-September a year ago.
Damages paid by UNSAR members on the general insurance segment amounted to RON2.6 billion. Their claim reserve stood at RON1.4 billion.
In January-September 2011, UNSAR insurers paid indemnities of RON84 million on the life insurance segment, up about 6% on the year.
UNSAR was set up in 1994 with a view to developing and extending cooperation in the insurance and reinsurance field, both at national and international levels. It currently has 22 members – – Allianz-Tiriac, Ardaf, Asirom, Astra, Aviva Asigurari de Viata, AXA Asigurari, BCR Asigurari, BCR Asigurari de Viata, BRD Asigurari de Viata, Carpatica Asig, Certasig, ERGO Asigurari de Viata, Eureko Romania, Euroins, FATA Asigurari, Garanta, Generali, Grawe, Groupama, ING Asigurari de Viata, Platinum, UNIQA Asigurari and UNIQA Asigurari de Viata.
(EUR1=RON4.3448)