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  4. > Romania Insurance Report Q4 2015

Romania Insurance Report Q4 2015

  • October 2015
  • -
  • Business Monitor International
  • -
  • 68 pages

Includes 3 FREE quarterly updates

BMI View: Currency fluctuations are somewhat distorting the outlook for Romania's insurance sector, withsharp contractions in both life and non-life premiums expected over the short term when measured in USdollar terms. Over the longer term the forecast is more positive, with steady growth in premiums expectedby 2019, in both local currency and US dollar terms. The life and non-life sectors are both growing from alow base in Romania, with penetration and density currently limited, however there is substantial long termgrowth potential in both sectors.The non-life sector is the more developed in Romania, accounting for around 84% of premiums written inthe market (in 2015).

Within the non-life sector the market is largely dominated by motor vehicle insurancewhich accounts for over 70% of premiums, making this the key line in the country's insurance market.Motor insurance is mandatory in Romania, which has helped to ensure development in a market whereknowledge and understanding of the benefits of insurance products is low - as is average household incomewhich reduces capacity for spending on non-essential insurance lines. In 2015 we expect to see growth of4.7% in local currency terms, while recording a contraction in US dollar terms, in the non-life sector. Theseforecasts are supported by our bullish outlook for the domestic economy, where we have revised-up ourforecasts for real GDP to expand by 3.6% in 2015, from 3.4% previously, on the back of improvingconditions for household spending.

Table Of Contents

Romania Insurance Report Q4 2015
BMI Industry View 7
SWOT 9
Insurance 9
Political 11
Economic 12
Operational Risk 13
Industry Forecast 15
Life Premiums Forecast 15
Life Premiums 15
Table: Gross Life Premiums Written (Romania 2012-2019) 17
Table: Net Life Premiums Written (Romania 2012-2019) 17
Life Claims 18
Table: Life Insurance Claims (Romania 2007-2013) 18
Life Insurance Drivers 18
Table: Life Expectancy by Gender (Romania 2012-2019) 19
Table: Demographic Breakdown (Romania 2012-2019) 19
Non-Life Premiums Forecast 20
Gross Non-Life Premiums 20
Table: Gross Non-Life Premiums Written (Romania 2012-2019) 22
Net Non-Life Premiums 22
Table: Net Non-Life Premiums Written (Romania 2012-2019) 23
Reinsurance 23
Table: Reinsurance Non-Life Premiums Written (Romania 2012-2019) 24
Claims 24
Table: Non-Life Insurance Claims (Romania 2007-2014) 24
Table: Non-Life Insurance Claims by Line (Romania 2009-2013) 26
Non-Life Sub-Sector Forecast 27
Table: Non-Life % Breakdown (Romania 2012-2019) 27
Motor Vehicle And Transport Insurance 28
Table: Motor Vehicle Insurance (Romania 2012-2019) 29
Table: Insurance Key Drivers, Autos (Romania 2012-2019) 29
Table: Transport Insurance (Romania 2012-2019) 30
Table: Insurance Key Drivers, Freight Tonnage (Romania 2012-2019) 31
Property Insurance 31
Table: Property Insurance (Romania 2012-2019) 32
General Liability Insurance 32
Table: General Liability Insurance (Romania 2012-2019) 33
Health and Personal Accident Insurance 33
Table: Health Insurance (Romania 2012-2019) 33
Table: Insurance Key Drivers, Private Health Expenditure (Romania 2012-2019) 34
Table: Personal Accident Insurance (Romania 2012-2019) 35
Insurance Risk/Reward Index 36
Emerging Europe Risk/Reward Index 36
Table: Emerging Europe Insurance Risk/Reward Index 37
Market Overview 38
Life Market Overview 38
The Product Offering 38
The Competitive Landscape 38
Table: Life Insurance Market (USDmn) 2007-2013 39
Table: Life Insurance Market (%) 2007-2013 40
Non Life Market Overview 41
The Product Offering 41
The Competitive Landscape 42
Table: Non-Life Insurance Market (USDmn) 2007-2013 44
Table: Non-Life Insurance Market (%) 2007-2013 45
Company Profile 46
Allianz 46
Euroins 48
Generali 50
Vienna Insurance Group (VIG) 54
Demographic Forecast 57
Table: Population Headline Indicators (Romania 1990-2025) 58
Table: Key Population Ratios (Romania 1990-2025) 58
Table: Urban/Rural Population and Life Expectancy (Romania 1990-2025) 59
Table: Population By Age Group (Romania 1990-2025) 59
Table: Population By Age Group % (Romania 1990-2025) 60
Methodology 62
Industry Forecast Methodology 62
Risk/Reward Index Methodology 65
Table: Indicators 67
Table: Weighting of Indicators 68

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