DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/0920c0/romania_insurance) has announced the addition of the "Romania Insurance Report Q4 2011" report to their offering.
Business Monitor International's (BMI) Romania Insurance Report (Q4 2011) provides industry professionals and strategists, corporate analysts, insurance associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Romania's insurance industry.
It appears that the general environment for Romania's insurance sector remains difficult. The optimism expressed by some companies in their public comments and quarterly accounts appears to be premature.
The key trend in the non-life segment is intense price competition in the major auto-related lines. Premiums for voluntary car insurance (CASCO) and compulsory motorist third-party liability (CMTPL) cover were about a fifth lower in Q111 than in Q110. Because of the dominance of these lines in the nonlife segment - they account for about two-thirds of premiums - this contraction more than offset growth in other areas. Property and fire premiums, for instance, were up about 11% year-on-year (y-o-y). It appears that the non-life insurers are able to pass on the elevated claims costs of 2010 to their customers at a time when claims have fallen quite sharply, as has been the case across most of Central and Eastern Europe.
The best that can be said about the life insurance segment is that it is no longer shrinking. The life segment has suffered much more from the volatility of Romania's economy over recent years than the non-life segment. However, it would be wrong to suggest the segment has returned to bonanza conditions. Strong growth of 14% y-o-y in premiums for traditional life insurance products in Q111 has been almost totally negated by 11% y-o-y decrease in premiums for unit-linked products.
Companies Mentioned:
- Asiban
- Euroins
- AEGON
- Allianz
- Aviva
- AXA
- BNP Paribas Cardif
- ERGO
- Eureko
- Generali
- GRAWE
- Groupama
- HDI-Gerling/Talanx
- ING
- KBC Group
- MetLife ALICO
- Prudential Financial
- QBE
- RSA
- Uniqa
- Vienna Insurance Group
- Zurich
For more information visit http://www.researchandmarkets.com/research/0920c0/romania_insurance