Top ten insurers in Romania cut 79.2% slice of the market in the first semester

The first ten insurance companies in Romania controlled at the end of the first semester almost four fifths of the market with a value of contracts of 3.5 billion lei, according to data from the market watchdog CSA.

The market leader remains Allianz-Tiriac which owns 15.8 percent of the market with gross premium written (GPW) of 698.65 million lei, followed by Omniasig (part of the Vienna Insurance Group - VIG) with a market share of 13.90 percent and GPW of 641.66 million lei.

The third position was secured by Asirom which has a market share of 9.09 percent and GPW of 401.89 million lei.

ING Asigurari de Viata, part of the largest Dutch insurer ING, controls 6.18 percent of the market. It is followed by Unita (6.12 percent market share), BCR Asigurari (5.77 percent), Astra Asigurari (5.73 percent), Ardaf (4.93 percent).

The last position was secured by Generali, with a 4.80 percent share and GPW of 212.25 million lei.

Some 43 insurance companies currently operate on the Romanian market.

The Romanian insurers posted GPW of 4.42 billion lei in the first six months of 2008, a year-on-year climb of 22.32 percent.

NewsIn