Insurance Mkt Registers Losses in '06Publish date: Astazi, 26-02-2007
Last year, the Romanian insurance market registered losses, as a result of the higher damages paid (up by 54% y/y) than the underwritten premiums (up by 34% y/y).
In 2005, the profit was below 1% of the total turnover, due to competition and capital investments. In 2006, the investments accounted for 1% of the gross underwritten premiums.
The insurance market in Romania went up by 34% last year, up to a volume of gross underwritten premiums of EUR 1.6 Bn. For the next 3-5 years, the annual growth rate of the insurance market is estimated to be 20% YOY, by the UNSAR representatives.
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