Romania Insurance Report Q3 2016

Date: July 13, 2016
Pages: 56
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: RC05F64F315EN

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Includes 3 FREE quarterly updates

BMI View: We retain our broadly positive outlook for the Romanian insurance market in 2016 and beyond, out to the end of our forecast period in 2020. The life sector is in its early stages of development with low rates of density and penetration, having largely been constrained by disposable income levels in the country. Rising incomes will bolster life insurance uptake in the country and make it more affordable. the non-life sector is more established, though largely dominated by basic motor and property lines. We identify the primary drivers of growth as rising average household incomes, growing private final consumption levels, higher disposable incomes and positive macroeconomic market fundamentals. We believe that this growth could attract more foreign investment to the small Romanian market, though some regulatory uncertainty could deter potential investors.

Latest Updates And Developments
  • Carpatica Asig was placed under a resolution mechanism in January after being investigated for fraudulent reports and a deteriorating financial situation. The only foreign investor, International Insurance Consortium, backed out of the bid to acquire Carpatica after it stated it was not given full access to the troubled company's financial situation.
  • Regulatory oversight and transparency in the market have come under criticism in Romania following the bankruptcy of leading domestic firm Astra in late 2015 and arrest of Dan Adamescu, who has been charged with abuse of office, money laundering, and complicity to abuse of office by public officials. Adamescu has been given a four-year and four-month jail sentence for bribing judges and is being prosecuted for the mismanagement and eventual bankruptcy of Astra, according to local news media reports.
BMI Industry View
  Table: Headline Insurance Forecasts (Romania 2013-2020)
Industry Forecast
Life Premiums Forecast
  Table: Life Premiums (Romania 2013-2020)
  Table: Life Insurance Claims, Romania
Non-Life Premiums Forecast
  Table: Non-Life Premiums (Romania 2013-2020)
  Table: Non-Life Insurance Claims, Romania
Non-Life Sub-Sector Forecast
  Table: Non-Life Insurance Premiums by Product Line (Romania 2013-2020)
Insurance Risk/Reward Index
Emerging Europe Risk/Reward Index
  Table: Emerging Europe Insurance Risk/Reward Index - Q316
Market Overview
Life Market Overview
Product Offering
Competitive Landscape
  Table: Life Insurance Market (USDmn) 2008-2013
Non-Life Market Overview
Product Offering
Competitive Landscape
Company Profile
Vienna Insurance Group (VIG)
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
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