Market Research Logo

Non-Life Insurance in Romania, Key Trends and Opportunities to 2020

Non-Life Insurance in Romania, Key Trends and Opportunities to 2020

Synopsis

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

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, 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, explains the various types of natural hazard and their impact on the Romanian insurance industry, 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 'Non-Life Insurance in Romania, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Romanian non-life insurance segment, including:

  • The Romanian non-life segment’s detailed outlook by product category
  • A comprehensive overview of the Romanian economy and demographics
  • A comparison of the Romanian non-life insurance segment with its regional counterparts
  • The various distribution channels in the Romanian non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Romanian insurance industry
  • Details of the competitive landscape in the non-life insurance segment in Romania
  • Details of regulatory policy applicable to the Romanian insurance industry
Scope

This report provides a comprehensive analysis of the non-life insurance segment in Romania:
  • It provides historical values for the Romanian non-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 non-life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Romanian non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in Romania.
  • It analyzes various natural hazards and their impact on the Romanian insurance industry
  • It profiles the top non-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 non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Romanian non-life insurance segment.
  • Assess the competitive dynamics in the non-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
  • Motor insurance was the largest category in the segment during the review period, in terms of 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 for insurance and reinsurance companies. The regulation stipulates financial audit requirements for insurance and reinsurance companies.
  • On March 6, 2017, the ASF approved the statute of the Romanian Motor Insurer’s Bureau to enable the reorganization of the association in accordance with the provisions of GEO 54/2016. The reorganization process involves takeover activity for the Street Victim Protection Fund, the establishment of a National Protection Fund, and the management and development of the CEDAM database, which contains key information on compulsory civil liability insurance concluded in Romania.
  • Brokers were the most prominent distributors of non-life products during the review period.


  • Key Facts and Highlights
    • Table Romanian Non-Life Insurance - Key Facts, 2015
    • Table Romanian Non-Life Insurance - Segment Shares of the Top Insurers, 2014
  • Executive Summary
  • Economy and Demographics
    • Table Romanian Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Romanian Non-Life Insurance - Gross Written Premium (RON Billion and US$ Billion), 2011-2015
        • Table Romanian Non-Life Insurance - Penetration (%), 2011-2015
        • Table Romanian Non-Life Insurance - Gross Written Premium (RON Billion and US$ Billion), 2015-2020
        • Table Romanian Non-Life Insurance - Penetration (%), 2015-2020
        • Table Romanian Non-Life Insurance - Premium per Capita (RON and US$), 2011-2015
        • Table Romanian Non-Life Insurance - Premium per Capita (RON and US$), 2015-2020
      • Policies sold
        • Table Romanian Non-Life Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Romanian Non-Life Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Profitability
        • Table Romanian Non-Life Insurance - Profitability Ratio (%), 2011-2015
        • Table Romanian Non-Life Insurance - Profitability Ratio (%), 2015-2020
      • Assets and investments
        • Table Romanian Non-Life Insurance - Total Assets (RON Billion and US$ Billion), 2011-2015
        • Table Romanian Non-Life Insurance - Total Assets (RON Billion and US$ Billion), 2015-2020
        • Table Romanian Non-Life Insurance - Investment Portfolio (RON Billion), 2011-2015
        • Table Romanian Non-Life Insurance - Investment Portfolio (RON Billion), 2015-2020
  • Outlook by Category
    • Table Romanian Non-Life Insurance - Direct Written Premium by Category (RON Billion), 2011-2015
    • Table Romanian Non-Life Insurance - Direct Written Premium by Category (RON Billion), 2015-2020
    • Property Insurance
      • Product overview
      • Premium
        • Table Romanian Property Insurance - Direct Written Premium by Sub-Category (RON Billion), 2011-2015
        • Table Romanian Property Insurance - Direct Written Premium by Sub-Category (RON Billion), 2015-2020
      • Policies sold
        • Table Romanian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
        • Table Romanian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
    • Motor Insurance
      • Product overview
        • Table Romanian Motor Insurance - Number of New Registered Vehicles by Type , 2011-2016
      • Premium
        • Table Romanian Motor Insurance - Direct Written Premium by Sub-Category (RON Billion), 2011-2015
        • Table Romanian Motor Insurance - Direct Written Premium by Sub-Category (RON Billion), 2015-2020
      • Policies sold
        • Table Romanian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
        • Table Romanian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
    • Liability Insurance
      • Product overview
      • Premium
        • Table Romanian Liability Insurance - Direct Written Premium by Sub-Category (RON Million), 2011-2015
        • Table Romanian Liability Insurance - Direct Written Premium by Sub-Category (RON Million), 2015-2020
      • Policies sold
        • Table Romanian Liability Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Romanian Liability Insurance - Number of Policies Sold (Thousand), 2015-2020
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table Romanian Transport Network - Global Rankings
      • Premium
        • Table Romanian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (RON Million), 2011-2015
        • Table Romanian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (RON Million), 2015-2020
      • Policies sold
        • Table Romanian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Romanian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2015-2020
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
  • Natural Hazards
    • Table Romanian Average Annual Loss by Hazard, 1990-2014
    • Flooding
    • Droughts
    • Earthquakes
    • Exposure
  • Competitive Landscape
    • Table Romanian Non-Life Insurance - Segment Shares of the Leading Insurers (%), 2015
    • Company Profiles
      • Omniasig Vienna Insurance Group SA - company overview
        • Table Omniasig Vienna Insurance Group SA - Key Facts
        • Table Omniasig Vienna Insurance Group SA - Key Financials (RON Million), 2010-2014
      • Allianz-Tiriac Asigurari SA - company overview
        • Table Allianz-Tiriac Asigurari SA - Key Facts
        • Table Allianz-Tiriac Asigurari SA - Key Financials (RON Million), 2010-2014
      • Groupama Asigurari SA - company overview
        • Table Groupama Asigurari SA - Key Facts
        • Table Groupama Asigurari SA - Key Financials (RON Million), 2010-2014
      • Euroins Romania Asigurare Reasigurare SA - company overview
        • Table Euroins Romania Asigurare Reasigurare SA - Key Facts
        • Table Euroins Romania Asigurare Reasigurare 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
  • 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
      • 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 Insurance Industry - Policies and Premium, 2011-2015
      • Table Romanian Insurance Industry - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Romanian Non-Life Insurance - Claims and Expenses, 2011-2015
      • Table Romanian Non-Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Romanian Non-Life Insurance - Assets and Investments, 2011-2015
      • Table Romanian Non-Life Insurance - Assets and Investments, 2015-2020
    • Property Insurance
      • Table Romanian Non-Life Insurance - Property Insurance, 2011-2015
      • Table Romanian Non-Life Insurance - Property Insurance, 2015-2020
    • Property Insurance by Product
      • Table Romanian Non-Life Insurance - Property Insurance by Product, 2011-2015
      • Table Romanian Non-Life Insurance - Property Insurance by Product, 2015-2020
    • Motor Insurance
      • Table Romanian Non-Life Insurance - Motor Insurance, 2011-2015
      • Table Romanian Non-Life Insurance - Motor Insurance, 2015-2020
    • Motor Insurance by Product
      • Table Romanian Non-Life Insurance - Motor Insurance by Product, 2011-2015
      • Table Romanian Non-Life Insurance - Motor Insurance by Product, 2015-2020
    • Liability Insurance
      • Table Romanian Non-Life Insurance - Liability Insurance, 2011-2015
      • Table Romanian Non-Life Insurance - Liability Insurance, 2015-2020
    • Marine, Aviation and Transit Insurance
      • Table Romanian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
      • Table Romanian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report