Romanian Insurance market scores 1.2 bln Euros record

The Romanian insurance market expanded and recorded a 17.01% growth last year compared to 2004, the total value of the insurances topping 1.2 billion Euros, a report by the Insurances SupervisionCommission (CSA) wrote

In 2005, the insurance density reached 56 euro/inhabitant, up 17.33% compared to 2004. The car’s insurances and the natural catastrophes’ ones are the most popular.

Life insurances amounted to over 282 million Euros, representing 23.5% of the total value and a growth of 28.12 % growth compared to the previous year.

By the end of 2005, the number of employees in the insurances field exceeded 15,000, out of which 14,000 employees of the insurance companies, 1,100 more than in 2004, and 1140 insurance brokers, 150 more than in the previous year. The collaborators agents are reported to be 28,850 while brokers 1,072.

Allianz-Tiriac ranks first with a market share of 19,63% and a profit of 36 million Euros, followed by Asirom with12,99% , and Omniasig – 9,54%. ING Life Insurance and BCR boasted profits of 28.8 million lei and 14.2 million lei, respectively