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Romania Insurance Report Q3 2016

  • July 2016
  • -
  • Business Monitor International
  • -
  • 56 pages

Includes 3 FREE quarterly updates

BMI View: We retain our broadly positive outlook for the Romanian insurance market in 2016 and beyond,out to the end of our forecast period in 2020. The life sector is in its early stages of development with lowrates of density and penetration, having largely been constrained by disposable income levels in thecountry. Rising incomes will bolster life insurance uptake in the country and make it more affordable. Thenon-life sector is more established, though largely dominated by basic motor and property lines. We identifythe primary drivers of growth as rising average household incomes, growing private final consumptionlevels, higher disposable incomes and positive macroeconomic market fundamentals. We believe that thisgrowth could attract more foreign investment to the small Romanian market, though some regulatoryuncertainty could deter potential investors.Latest Updates And Developments

- Carpatica Asig was placed under a resolution mechanism in January after being investigated forfraudulent reports and a deteriorating financial situation. The only foreign investor, InternationalInsurance Consortium, backed out of the bid to acquire Carpatica after it stated it was not given fullaccess to the troubled company's financial situation.

- Regulatory oversight and transparency in the market have come under criticism in Romania following thebankruptcy of leading domestic firm Astra in late 2015 and arrest of Dan Adamescu, who has beencharged with abuse of office, money laundering, and complicity to abuse of office by public officials.Adamescu has been given a four-year and four-month jail sentence for bribing judges and is beingprosecuted for the mismanagement and eventual bankruptcy of Astra, according to local news mediareports.

Table Of Contents

Romania Insurance Report Q3 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Romania 2013-2020) 5
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Romania 2013-2020) 12
Table: Life Insurance Claims, Romania 13
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Romania 2013-2020) 16
Table: Non-Life Insurance Claims, Romania 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 - Q316 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 34
Product Offering 34
Competitive Landscape 35
Company Profile 38
Allianz 38
Euroins 40
Generali 43
Vienna Insurance Group (VIG) 47
Methodology 50
Industry Forecast Methodology 50
Risk/Reward Index Methodology 53
Table: Indicators 55
Table: Weighting of Indicators 56

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