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Synopsis
Timetric’s 'Personal Accident and Health Insurance in Romania, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers, challenges in the Romanian personal accident and health insurance segment.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Romanian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'Personal Accident and Health Insurance in Romania, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Romanian personal accident and health insurance segment, including:

- The Romanian personal accident and health insurance segment’s growth prospects by insurance category

- Key trends, drivers and challenges for the personal accident and health insurance segment

- A comprehensive overview of the Romanian economy and demographics

- The various distribution channels in the Romanian personal accident and health insurance segment

- Details of the competitive landscape in the personal accident and health insurance segment in Romania

- Details of regulatory policy applicable to the Romanian insurance industry

Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Romania:

- It provides historical values for the Romanian personal accident and health insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key categories in the Romanian personal accident and health insurance segment, and market forecasts to 2019.

- It profiles the top personal accident and health insurance companies in Romania, and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Romanian personal accident and health insurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Romanian personal accident and health insurance segment.

- Assess the competitive dynamics in the personal accident and health insurance segment.

- Identify growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the Romanian insurance industry, and their impact on companies and the industry's future.

Key Highlights
- The personal accident and health segment is the smallest in the country’s insurance industry, accounting for 3.7% of the industry’s gross written premium in 2014.

- Although the public healthcare system is dominant, and is funded by the National Health Insurance Fund, the inadequate service provided is driving an increasing number of Romanians to purchase private healthcare insurance.

- The Romanian travel insurance direct written premium recorded a review-period CAGR of 11.0%.

- Brokers were the leading distribution channel in the personal accident and health segment during the review period.

- In April 2013, the Romanian government merged the supervisory authorities for the insurance, capital and private pension markets to create a single regulator, the Autoritatea de Supraveghere Financiar? (ASF).

Table Of Contents

Personal Accident and Health Insurance in Romania, Key Trends and Opportunities to 2019
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Personal Accident and Health Insurance Segment Outlook
4.1 Key Drivers
4.2 Key Trends
4.3 Challenges
4.4 Personal Accident and Health Insurance Growth Prospects by Category
4.4.1 Personal accident insurance
4.4.2 Travel insurance
4.4.3 Health insurance
4.4.4 Non-life health insurance
4.4.5 Life health insurance
5 Analysis by Distribution Channel
6 Competitive Landscape and Strategic Insights
6.1 Overview
6.2 Leading Companies in the Romanian Personal Accident and Health Insurance Segment
6.2.1 Astra SA - company overview
6.2.2 Metropolitan Life Asigur?ri SA - company overview
6.2.3 Omniasig Vienna Insurance Group SA - company overview
6.2.4 Allianz-Tiriac Asigur?ri SA - company overview
6.2.5 Signal Iduna Asigur?ri de Viata SA - company overview
6.2.6 Credit Europe Asigur?ri-Reasigurari SA - company overview
6.2.7 Compania de Asigurari-Reasigurari Exim Romania SA - company overview
6.2.8 Generali Romania SA - company overview
6.2.9 Uniqa Asigur?ri SA - company overview
6.2.10 Groupama Asigur?ri SA - company overview
7 Governance, Risk and Compliance
7.1 Legislation Overview and Historical Evolution
7.2 Latest Changes in Regulations
7.3 Legislation and Market Practice by Type of Insurance
7.3.1 Life insurance
7.3.2 Property insurance
7.3.3 Motor insurance
7.3.4 Liability insurance
7.3.5 Marine, aviation and transit insurance
7.3.6 Personal accident and health insurance
7.4 Compulsory Insurance
7.4.1 Motor third-party liability insurance
7.4.2 Insurance of dwellings against earthquakes, landslides and flooding
7.4.3 Nuclear liability insurance
7.4.4 Social security insurance
7.4.5 Professional indemnity insurance for alternative investment fund managers
7.5 Supervision and Control
7.5.1 International Association of Insurance Supervisors
7.5.2 European Insurance and Occupational Pensions Authority
7.5.3 Financial Supervisory Authority
7.5.4 Federation of European Risk Management Associations (Ferma)
7.5.5 National Association of Insurance and Reinsurance Companies
7.6 Non-Admitted Insurance Regulations
7.6.1 Overview
7.6.2 Intermediaries
7.6.3 Market practices
7.6.4 Fines and penalties
7.7 Company Registration and Operations
7.7.1 Types of insurance organization
7.7.2 Establishing a local company
7.7.3 Foreign ownership
7.7.4 Types of license
7.7.5 Capital requirements
7.7.6 Solvency margins
7.7.7 Reserve requirements
7.7.8 Investment regulations
7.7.9 Statutory return requirements
7.7.10 Fee structure
7.8 Taxation
7.8.1 Insurance premium or policy taxation
7.8.2 Withholding taxes on premium paid overseas
7.8.3 Corporate tax
7.8.4 VAT
7.8.5 Captives
7.9 Legal System
7.9.1 Introduction
7.9.2 Access to court
7.9.3 Alternative dispute resolution (ADR)
8 Definitions and Methodology
8.1 Definitions
8.2 Methodology
9 About Timetric
9.1 Contact Timetric
9.2 About Timetric
9.3 Timetric's Services
9.4 Disclaimer

List of Tables
Table 1: Romanian Personal Accident and Health Insurance - Key Facts, 2014
Table 2: Romanian Government Credit Ratings
Table 3: Romanian Personal Accident and Health Insurance - Gross Written Premium by Category (RON Million), 2010-2014
Table 4: Romanian Personal Accident and Health Insurance - Gross Written Premium by Category (RON Million), 2010-2014
Table 5: Romanian Personal Accident and Health Insurance - Gross Written Premium by Category (RON Million), 2014-2019
Table 6: Romanian Personal Accident and Health Insurance - Gross Written Premium by Category (RON Million), 2014-2019
Table 7: Romanian Personal Accident and Health Insurance - Direct Written Premium by Category (RON Million), 2010-2014
Table 8: Romanian Personal Accident and Health Insurance - Direct Written Premium by Category (RON Million), 2010-2014
Table 9: Romanian Personal Accident and Health Insurance - Direct Written Premium by Category (RON Million), 2014-2019
Table 10: Romanian Personal Accident and Health Insurance - Direct Written Premium by Category (RON Million), 2014-2019
Table 11: Romanian Personal Accident and Health Insurance - Net Earned Premium (RON Million), 2010-2014
Table 12: Romanian Personal Accident and Health Insurance - Net Earned Premium (RON Million), 2014-2019
Table 13: Romanian Personal Accident and Health Insurance - Loss Ratio (%), 2010-2014
Table 14: Romanian Personal Accident and Health Insurance - Loss Ratio (%), 2014-2019
Table 15: Romanian Personal Accident and Health Insurance - Commission and Expenses (RON Million), 2010-2014
Table 16: Romanian Personal Accident and Health Insurance - Commission and Expenses (RON Million), 2014-2019
Table 17: Romanian Personal Accident and Health Insurance - Combined Ratio (%), 2010-2014
Table 18: Romanian Personal Accident and Health Insurance - Combined Ratio (%), 2014-2019
Table 19: Romanian Personal Accident and Health Insurance - Number of Policies per Capita, 2010-2014
Table 20: Romanian Personal Accident and Health Insurance - Number of Policies per Capita, 2014-2019
Table 21: Romanian Personal Accident and Health Insurance - Total Assets (RON Million), 2010-2014
Table 22: Romanian Personal Accident and Health Insurance - Total Assets (RON Million), 2014-2019
Table 23: Romanian Personal Accident and Health Insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2010-2014
Table 24: Romanian Personal Accident and Health Insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2014-2019
Table 25: Romanian Personal Accident Insurance - Number of Policies Sold (Thousand), 2010-2014
Table 26: Romanian Personal Accident Insurance - Number of Policies Sold (Thousand), 2014-2019
Table 27: Romanian Personal Accident Insurance - Direct Written Premium (RON Million), 2010-2014
Table 28: Romanian Personal Accident Insurance - Direct Written Premium (RON Million), 2014-2019
Table 29: Romanian Travel Insurance - Number of Policies Sold (Thousand), 2010-2014
Table 30: Romanian Travel Insurance - Number of Policies Sold (Thousand), 2014-2019
Table 31: Romanian Travel Insurance - Direct Written Premium (RON Million), 2010-2014
Table 32: Romanian Travel Insurance - Direct Written Premium (RON Million), 2014-2019
Table 33: Romanian Health Insurance - Gross Written Premium by Sub-Category (RON Million), 2010-2014
Table 34: Romanian Health Insurance - Gross Written Premium by Sub-Category (US$ Million), 2010-2014
Table 35: Romanian Health Insurance - Gross Written Premium by Sub-Category (RON Million), 2014-2019
Table 36: Romanian Health Insurance - Gross Written Premium by Sub-Category (RON Million), 2014-2019
Table 37: Romanian Non-Life Health Insurance - Number of Policies Sold (Thousand), 2010-2014
Table 38: Romanian Non-Life Health Insurance - Number of Policies Sold (Thousand), 2014-2019
Table 39: Romanian Non-Life Health Insurance - Direct Written Premium (RON Million), 2010-2014
Table 40: Romanian Non-Life Health Insurance - Direct Written Premium (RON Million), 2014-2019
Table 41: Romanian Life Health Insurance - Number of Policies Sold (Thousand), 2010-2014
Table 42: Romanian Life Health Insurance - Number of Policies Sold (Thousand), 2014-2019
Table 43: Romanian Life Health Insurance - Direct Written Premium (RON Million), 2010-2014
Table 44: Romanian Life Health Insurance - Direct Written Premium (RON Million), 2014-2019
Table 45: Romanian Personal Accident and Health Insurance - Segment Shares (%), 2013
Table 46: Astra SA - Key Facts
Table 47: Astra SA - Key Financials (RON Million), 2009-2013
Table 48: Metropolitan Life Asigur?ri SA - Key Facts
Table 49: Metropolitan Life Asigur?ri SA - Key Financials (RON Million), 2009-2013
Table 50: Omniasig Vienna Insurance Group SA - Key Facts
Table 51: Omniasig Vienna Insurance Group SA - Key Financials (RON Million), 2012-2013
Table 52: Allianz-Tiriac Asigur?ri SA - Key Facts
Table 53: Allianz-Tiriac Asigur?ri SA - Key Financials (RON Million), 2009-2013
Table 54: Signal Iduna Asigur?ri de Viata SA - Key Facts
Table 55: Credit Europe Asigur?ri-Reasigurari SA - Key Facts
Table 56: Exim Romania SA - Key Facts
Table 57: Generali Asigur?ri SA - Key Facts
Table 58: Generali Asigur?ri SA - Key Financials (RON Million), 2009-2013
Table 59: Uniqa Asigur?ri SA - Key Facts
Table 60: Uniqa Asigur?ri SA - Key Financials (RON Million), 2009-2013
Table 61: Groupama Asigur?ri SA - Key Facts
Table 62: Groupama Asigur?ri SA - Key Financials (RON Million), 2009-2013
Table 63: Romania - Insurance Regulatory Framework Key Features
Table 64: Romania - Life Insurance Regulatory Framework
Table 65: Romania - Property Insurance Regulatory Framework
Table 66: Romania - Motor Insurance Regulatory Framework
Table 67: Romania - Liability Insurance Regulatory Framework
Table 68: Romania- Corporate Taxes for Financial Year 2015
Table 69: Insurance Industry Definitions

List of Figures
Figure 1: Romanian Real GDP (US$ Billion), 2010-2019
Figure 2: RON - US$ Exchange Rate, 2010-2019
Figure 3: Romanian Consumer Price Inflation, 2010-2019
Figure 4: Romanian Current Account Balance as Percentage of GDP (%), 2010-2019
Figure 5: Romanian Unemployment Rate, 2010-2019
Figure 6: Romanian Population by Age Group, 2010-2019
Figure 7: Romanian Personal Accident and Health Insurance - Gross Written Premium by Category (RON Million), 2010-2019
Figure 8: Romanian Personal Accident and Health Insurance - Gross Written Premium by Category (Percentage Share), 2014 and 2019
Figure 9: Romanian Personal Accident and Health Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 10: Romanian Personal Accident and Health Insurance - Direct Written Premium by Category (RON Million), 2010-2019
Figure 11: Romanian Personal Accident and Health Insurance - Direct Written Premium by Category (Percentage Share), 2014 and 2019
Figure 12: Romanian Personal Accident and Health Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 13: Romanian Personal Accident and Health Insurance - Net Earned Premium (RON Million), 2010-2014
Figure 14: Romanian Personal Accident and Health Insurance - Net Earned Premium (RON Million), 2014-2019
Figure 15: Romanian Personal Accident and Health Insurance - Loss Ratio (%), 2010-2014
Figure 16: Romanian Personal Accident and Health Insurance - Loss Ratio (%), 2014-2019
Figure 17: Romanian Personal Accident and Health Insurance - Commission and Expenses (RON Million), 2010-2014
Figure 18: Romanian Personal Accident and Health Insurance - Commission and Expenses (RON Million), 2014-2019
Figure 19: Romanian Personal Accident and Health Insurance - Combined Ratio (%), 2010-2014
Figure 20: Romanian Personal Accident and Health Insurance - Combined Ratio (%), 2014-2019
Figure 21: Romanian Personal Accident and Health Insurance - Number of Policies per Capita, 2010-2014
Figure 22: Romanian Personal Accident and Health Insurance - Number of Policies per Capita, 2014-2019
Figure 23: Romanian Personal Accident and Health Insurance - Total Assets (RON Million), 2010-2014
Figure 24: Romanian Personal Accident and Health Insurance - Total Assets (RON Million), 2014-2019
Figure 25: Romanian Personal Accident and Health Insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2010-2014
Figure 26: Romanian Personal Accident and Health Insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2014-2019
Figure 27: Romanian Personal Accident and Health Insurance - Investment Portfolio (RON Million), 2010-2014
Figure 28: Romanian Personal Accident and Health Insurance - Investment Portfolio (% Share), 2010 and 2014
Figure 29: Romanian Personal Accident and Health Insurance - Penetration (%), 2010-2014
Figure 30: Romanian Personal Accident and Health Insurance - Number of Policies Sold (Thousand), 2010-2014
Figure 31: Romanian Personal Accident and Health Insurance - Number of Policies Sold (Thousand), 2014-2019
Figure 32: Romanian Personal Accident and Health Insurance - Direct Premium per Capita (RON), 2010-2014
Figure 33: Romanian Personal Accident Insurance - Number of Policies Sold (Thousand), 2010-2014
Figure 34: Romanian Personal Accident Insurance - Number of Policies Sold (Thousand), 2014-2019
Figure 35: Romanian Personal Accident Insurance - Direct Written Premium (RON Million), 2010-2014
Figure 36: Romanian Personal Accident Insurance - Direct Written Premium (RON Million), 2014-2019
Figure 37: Romanian Travel Insurance - Number of Policies Sold (Thousand), 2010-2014
Figure 38: Romanian Travel Insurance - Number of Policies Sold (Thousand), 2014-2019
Figure 39: Romanian Travel Insurance - Direct Written Premium (RON Million), 2010-2014
Figure 40: Romanian Travel Insurance - Direct Written Premium (RON Million), 2014-2019
Figure 41: Romanian Health Insurance - Gross Written Premium by Sub-Category (RON Million), 2010-2019
Figure 42: Romanian Health Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 43: Romanian Non-Life Health Insurance - Number of Policies Sold (Thousand), 2010-2014
Figure 44: Romanian Non-Life Health Insurance - Number of Policies Sold (Thousand), 2014-2019
Figure 45: Romanian Non-Life Health Insurance - Direct Written Premium (RON Million), 2010-2014
Figure 46: Romanian Non-Life Health Insurance - Direct Written Premium (RON Million), 2014-2019
Figure 47: Romanian Life Health Insurance - Number of Policies Sold (Thousand), 2010-2014
Figure 48: Romanian Life Health Insurance - Number of Policies Sold (Thousand), 2014-2019
Figure 49: Romanian Life Health Insurance - Direct Written Premium (RON Million), 2010-2014
Figure 50: Romanian Life Health Insurance - Direct Written Premium (RON Million), 2014-2019
Figure 51: Romanian Personal Accident and Health Insurance - Segment Shares (%), 2013
Figure 52: Romania - The Three Pillars of Solvency II
Figure 53: Romania - Insurance Supervision and Control at Various Levels
Figure 54: Romania - Insurance Regulatory Frameworks for Company Registration and Operation

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