Romania Insurance Report Q2 2015

Date: March 11, 2015
Pages: 71
US$ 1,295.00
Report type: Strategic Report
Delivery: Download
ID: R6F5425676CEN

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Includes 3 FREE quarterly updates

BMI View: Romania's insurance market remains underdeveloped, with penetration currently trending at less than 0.5% relative to GDP. Low income levels and limited levels of disposable income have hampered market growth, particularly with regard to the life insurance segment which only occupies around 0.2% of GDP. The reinsurance sector is also small by regional standards, particularly in terms of the life segment, where annual premiums are negligible. Meanwhile, the non-life insurance market is heavily weighted towards motor vehicle and property insurance which together occupy around 90% of total premiums. Despite obvious challenges, the market has seen a number of new entrants over the past few years, including major Western European brands such as Allianz, Generali, AXA and ING.

The insurance market will remain sluggish in 2015 with limited growth in premiums reflecting the lingering overhang from the country's recent economic downturn. The life sector will continue to underperform the more vibrant non-life market in terms of premiums growth in 2015. Gross premiums in both segments will contract in USD terms, this year, however, due to currency market movements that will see the Romanian leu depreciate by more than 20% against the US dollar. Nevertheless, as the Romanian economy starts to build up steam, a strong labour market and growing consumer confidence will support a steady increase in household spending. With car sales forecast to grow by more than 15%, this will support further demand for compulsory third part motor vehicle insurance as well as comprehensive coverage policies.
BMI Industry View
Industry Forecast
Total Premiums Forecast
Total Premiums
  Table: Total Gross Premiums Written (Romania 2012-2019)
  Table: Total Net Premiums Written (Romania 2012-2019)
Total Claims
  Table: Total Insurance Claims (Romania 2007-2013)
Life Premiums Forecast
Life Premiums
  Table: Gross Life Premiums Written (Romania 2012-2019)
  Table: Net Life Premiums Written (Romania 2012-2019)
Life Claims
  Table: Life Insurance Claims (Romania 2007-2013)
Life Insurance Drivers
  Table: Insurance Key Drivers, Private Health Expenditure (Romania 2012-2019)
  Table: Insurance Key Drivers, Disease Adjusted Life Years (Romania 2012-2019)
Non-Life Premiums Forecast
Gross Non-Life Premiums
  Table: Gross Non-Life Premiums Written (Romania 2012-2019)
Net Non-Life Premiums
  Table: Net Non-Life Premiums Written (Romania 2012-2019)
  Table: Reinsurance Non-Life Premiums Written (Romania 2012-2019)
  Table: Non-Life Insurance Claims (Romania 2007-2013)
  Table: Non-Life Insurance Claims by Line (Romania 2009-2013)
Non-Life Sub-Sector Forecast
  Table: Non-Life % Breakdown (Romania 2012-2019)
Motor Vehicle And Transport Insurance
  Table: Motor Vehicle Insurance (Romania 2012-2019)
  Table: Insurance Key Drivers, Autos (Romania 2012-2019)
  Table: Transport Insurance (Romania 2012-2019)
  Table: Insurance Key Drivers, Freight Tonnage (Romania 2012-2019)
Property Insurance
  Table: Property Insurance (Romania 2012-2019)
General Liability And Credit Guarantee Insurance
  Table: General Liability Insurance (Romania 2012-2019)
  Table: Credit/Financial Guarantee Insurance (Romania 2012-2019)
Industry Risk Reward Ratings
Emerging Europe Risk/Reward Index - Q2 2015
  Table: Central And Eastern Europe Risk/Reward Index - Q2 2015
Market Overview
Life Market Overview
  Table: Life Insurance Market (USDmn) 2006-2012
  Table: Life Insurance Market (%) 2006-2012
Non-Life Market Overview
  Table: Non-Life Insurance Market (USDmn), 2006-2012
  Table: Non-Life Insurance Market (%), 2006-2012
Company Profile
Vienna Insurance Group (VIG)
Demographic Forecast
  Table: Population Headline Indicators (Romania 1990-2025)
  Table: Key Population Ratios (Romania 1990-2025)
  Table: Urban/Rural Population & Life Expectancy (Romania 1990-2025)
  Table: Population By Age Group (Romania 1990-2025)
  Table: Population By Age Group % (Romania 1990-2025)
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
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