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  4. > Romania Insurance Report Q4 2016

Romania Insurance Report Q4 2016

  • October 2016
  • -
  • Business Monitor International
  • -
  • 55 pages

Includes 3 FREE quarterly updates

BMI View:

The Romanian insurance sector will see steady and solid growth over the medium term, although 2016 will mark a relatively stagnant period, particularly in terms of US dollars. The life sector remains small, although its share of overall premiums will rise over the next five years. The non-life sector will remain dominated by motor insurance but there is plenty of room for growth in smaller lines that will be encouraged by rising incomes and positive macroeconomic market fundamentals. We believe that this growth could attract more foreign investment to the small Romanian market, though some regulatory uncertainty could deter potential investors.
Latest Updates And Developments

- The insurance industry is seeing some consolidation due to acquisitions and insolvencies. In Q316, VIG acquired the AXA life insurance company in Romania, confirming its lead in the local market. Meanwhile, regulatory authorities withdrew Carpatica Asig's operating license and asked for the company's bankruptcy due to its financial problems. This followed Astra Asigurari's bankruptcy in 2015.

- We have revised our forecast for local currency and USD growth downwards from 4.4% and 1.3% to -0.1% and -5.3%, respectively. Life premiums will generally grow by 11.3% annually in USD terms and by 7.9% annually in local currency terms, a revision from 10.6% and 9.2% forecast previously. In 2020, total life premiums should amount to RON2.4bn (USD648mn), a downwards revision from RON2.7bn (USD710mn) forecast in the previous quarter.

Table Of Contents

Romania Insurance Report Q4 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Romania 2013-2020) 5
SWOT 7
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Romania 2013-2020) 12
Table: Life Insurance Claims (Romania 2008-2014) 13
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Romania 2013-2020) 16
Table: Non-Life Insurance Claims (Romania 2009-2014) 18
Non-Life Sub-Sector Forecast 18
Table: Non-Life Insurance Premiums By Product Line (Romania 2013-2020) 26
Insurance Risk/Reward Index 28
Emerging Europe Risk/Reward Index 28
Table: Emerging Europe Insurance Risk/Reward Index - Q416 29
Market Overview 30
Life Market Overview 30
Product Offering 30
Competitive Landscape 30
Table: Life Insurance Market (USDmn) 2008-2013 31
Non-Life Market Overview 33
Product Offering 33
Competitive Landscape 34
Company Profile 38
Allianz 38
Euroins 40
Generali 42
Vienna Insurance Group (VIG) 46
Methodology 49
Industry Forecast Methodology 49
Sector-Specific Methodology 50
Risk/Reward Index Methodology 52
Table: Indicators 54
Table: Weighting of Indicators 55

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