Battle for insurance market top spot to change in Q4

The 2009 RCA campaign (third-party liability auto insurance) could bring about a change in insurance market leader in the last quarter of this year, a position held since 2002 by the Allianz-Tiriac insurer.

After announcing its results for the January-September 2008 period, Allianz-Tiriac is once again at the top, with a volume of gross subscribed premiums of over €285 million. The Vienna Insurance Group-owned Omniasig is second, with gross subscribed premiums in the first three quarters worth €252.4 million.

Omniasig yesterday announced a 48.74 percent rise in gross subscribed premiums [Ed. n. growth was calculated on the lei-denominated value] compared to year-on-year, which constitutes an advance of almost double compared to the general evolution of the insurance market estimated for the first three quarters.

The growth reported by Omniasig was sustained by a surprising evolution on the property insurance segment, which rose 98.51 percent compared to September 2007, according to company figures. No-fault insurance also registered significant growth, of 82.87 percent, while RCA insurance rose 20.89 percent.

Business Standard