Romania Insurance Report Q4 2015

Date: October 14, 2015
Pages: 68
US$ 1,295.00
Report type: Strategic Report
Delivery: Download

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Includes 3 FREE quarterly updates

BMI View: Currency fluctuations are somewhat distorting the outlook for Romania's insurance sector, with sharp contractions in both life and non-life premiums expected over the short term when measured in US dollar terms. Over the longer term the forecast is more positive, with steady growth in premiums expected by 2019, in both local currency and US dollar terms. The life and non-life sectors are both growing from a low base in Romania, with penetration and density currently limited, however there is substantial long term growth potential in both sectors.

The non-life sector is the more developed in Romania, accounting for around 84% of premiums written in the market (in 2015). Within the non-life sector the market is largely dominated by motor vehicle insurance which accounts for over 70% of premiums, making this the key line in the country's insurance market. Motor insurance is mandatory in Romania, which has helped to ensure development in a market where knowledge and understanding of the benefits of insurance products is low - as is average household income which reduces capacity for spending on non-essential insurance lines. In 2015 we expect to see growth of 4.7% in local currency terms, while recording a contraction in US dollar terms, in the non-life sector. These forecasts are supported by our bullish outlook for the domestic economy, where we have revised-up our forecasts for real GDP to expand by 3.6% in 2015, from 3.4% previously, on the back of improving conditions for household spending.
BMI Industry View
Operational Risk
Industry Forecast
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: Life Expectancy by Gender (Romania 2012-2019)
  Table: Demographic Breakdown (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 2007-2014)
  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 Insurance
  Table: General Liability Insurance (Romania 2012-2019)
Health and Personal Accident Insurance
  Table: Health Insurance (Romania 2012-2019)
  Table: Insurance Key Drivers, Private Health Expenditure (Romania 2012-2019)
  Table: Personal Accident Insurance (Romania 2012-2019)
Insurance Risk/Reward Index
Emerging Europe Risk/Reward Index
  Table: Emerging Europe Insurance Risk/Reward Index
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Life Insurance Market (USDmn) 2007-2013
  Table: Life Insurance Market (%) 2007-2013
Non Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Non-Life Insurance Market (USDmn) 2007-2013
  Table: Non-Life Insurance Market (%) 2007-2013
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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