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Life Insurance in Romania, Key Trends and Opportunities to 2020

Life Insurance in Romania, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Life Insurance in Romania Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Romanian life insurance segment, and a comparison of the Romanian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

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 'Life Insurance in Romania, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Romanian life insurance segment, including:

  • An overview of the Romanian life insurance segment
  • The Romanian life insurance segment’s growth prospects by category
  • A comprehensive overview of the Romanian economy and demographics
  • A comparison of the Romanian life insurance segment with its regional counterparts
  • The various distribution channels in the Romanian life insurance segment
  • Details of the competitive landscape in the life insurance segment in Romania
  • Details of regulatory policy applicable to the Romanian insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in Romania:
  • It provides historical values for the Romanian life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Romanian life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Romanian life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for life insurance products in Romania.
  • It profiles the top life 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 life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Romanian life insurance segment.
  • Assess the competitive dynamics in the life 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
  • Life insurance was the second-largest segment in the Romanian insurance industry in 2015, accounting for 19.8% of the direct written premium.
  • On March 15, 2017, the Financial Supervisory Authority (Autoritatea de Supraveghere Financiară – ASF) introduced a regulation that amended and supplemented Regulation No. 21/2016, concerning reporting requirements of insurance and reinsurance companies. The regulation stipulates the provisions for financial audit requirements of insurance and reinsurance companies.
  • In April 2015, the ASF issued new rules on the authorization and operation of insurance and reinsurance brokers.
  • Brokers were the leading distribution channel in the Romanian life segment during the review period


  • Key Facts and Highlights
    • Table Romanian Life Insurance – Key Facts, 2015
    • Table Romanian Life Insurance – Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Romanian Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Romanian Life Insurance – Gross Written Premium (RON Billion and US$ Million), 2011–2015
        • Table Romanian Life Insurance – Penetration (%), 2011–2015
        • Table Romanian Life Insurance – Gross Written Premium (RON Billion and US$ Million), 2015–2020
        • Table Romanian Life Insurance – Penetration (%), 2015–2020
        • Table Romanian Life Insurance – Premium per Capita (RON and US$), 2011–2015
        • Table Romanian Life Insurance – Premium per Capita (RON and US$), 2015–2020
      • Policies sold
        • Table Romanian Life Insurance – Number of Policies Sold (Thousand), 2011–2015
        • Table Romanian Life Insurance – Number of Policies Sold (Thousand), 2015–2020
      • Claims
        • Table Romanian Life Insurance – Paid Claims (RON Million and US$ Million), 2011–2015
        • Table Romanian Life Insurance – Paid Claims (RON Million and US$ Million), 2015–2020
      • Assets and investments
        • Table Romanian Life Insurance – Total Assets (RON Billion and US$ Billion), 2011–2015
        • Table Romanian Life Insurance – Total Assets (RON Billion and US$ Billion), 2015–2020
        • Table Romanian Life Insurance – Investment Portfolio (RON Billion), 2011–2015
        • Table Romanian Life Insurance – Investment Portfolio (RON Billion), 2015–2020
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
  • Competitive Landscape
    • Table Romanian Life Insurance – Segment Shares of the Leading Insurers (%), 2015
    • Company Profiles
      • NN Asigurãri de Viaþã SA – company overview
        • Table NN Asigurãri de Viaþã SA – Key Facts
        • Table NN Asigurãri de Viaþã SA – Key Financials (RON Million), 2010–2014
      • BCR Asigurãri de Viaþã Vienna Insurance Group SA – company overview
        • Table BCR Asigurãri de Viaþã Vienna Insurance Group SA – Key Facts
        • Table BCR Asigurãri de Viaþã Vienna Insurance Group SA – Key Financials (RON Million), 2010–2014
      • Metropolitan Life Asigurãri SA – company overview
        • Table Metropolitan Life Asigurãri SA – Key Facts
        • Table Metropolitan Life Asigurãri SA – Key Financials (RON Million), 2010–2014
      • Asirom Vienna Insurance Group SA – company overview
        • Table Asirom Vienna Insurance Group SA – Key Facts
        • Table Asirom Vienna Insurance Group SA – Key Financials (RON Million), 2010–2014
      • Allianz-Tiriac Asigurãri SA – company overview
        • Table Allianz-Tiriac Asigurãri SA – Key Facts
        • Table Allianz-Tiriac Asigurãri SA – Key Financials (RON Million), 2010–2014
  • Governance, Risk and Compliance
    • Table Romania – Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Romania – Life Insurance Regulatory Framework
      • Property insurance
        • Table Romania – Property Insurance Regulatory Framework
      • Motor insurance
        • Table Romania– Motor Insurance Regulatory Framework
        • Table Romania – Life Insurance Regulatory Framework
      • Liability insurance
        • Table Romania – Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Air carriers and aircraft operators insurance
        • Table Romania – Minimum Coverage for Aircraft Third-Party Liability Per Accident and Aircraft
      • Insurance of dwellings against earthquakes, landslides and flooding
      • Nuclear liability insurance
      • Social security insurance
      • Professional indemnity insurance for alternative investment fund managers
      • Professional indemnity insurance for insurance intermediaries
      • Liability for ships with respect to oil pollution
    • Supervision and Control
      • International Association of Insurance Supervisors
      • European Insurance and Occupational Pensions Authority
      • Financial Supervisory Authority
      • Federation of European Risk Management Associations
      • National Association of Insurance and Reinsurance Companies
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Romania – Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Romanian Life Insurance – Policies and Premium, 2011–2015
      • Table Romanian Life Insurance – Policies and Premium, 2015–2020
    • Claims and Expenses
      • Table Romanian Life Insurance – Claims and Expenses, 2011–2015
      • Table Romanian Life Insurance – Claims and Expenses, 2015–2020
    • Assets and Investments
      • Table Romanian Life Insurance – Assets and Investments, 2011–2015
      • Table Romanian Life Insurance – Assets and Investments, 2015–2020
    • Linked vs. Non-Linked Policies
      • Table Romanian Life Insurance – Linked vs. Non-Linked Policies, 2011–2015
      • Table Romanian Life Insurance – Linked vs. Non-Linked Policies, 2015–2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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