"Romania Insurance Report Q2 2016" is now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Fri Apr 29 2016

We hold a broadly positive outlook for Romania's insurance market. Although the life sector is in the early stages of development, with low rates of penetration and density, a gradual improvement in household income rates and employment rates will improve the affordability of various life products , while demographic trends will increase demand. The non-life sector is more established, though largely dominated by basic motor and property lines. Again, economic growth and the rise in average household income will support growth in the non-life sector. This growth could attract more foreign investment to the small Romanian market, though some regulatory uncertainty could deter potential investors.

Full Report Details at
- http://www.fastmr.com/prod/1152882_romania_insurance_report_q2.aspx?afid=301

Latest Updates And Developments

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. Another insurance firm, Carpatica Asig, is also under investigation for fraudulent financial reports.

Meanwhile, the Financial Supervisory Authority (ASF) has given several major insurers, including Generali, Groupama, Allianz-Tiriac, Asirom, Omniasig, Uniqa, and Euroins 30 days to rectify irregularities relating to the way firms calculate premiums for compulsory motor insurance.

Despite these concerns, we are forecasting steady growth in motor insurance premiums, as new vehicles sales grow strongly and insurers improve cost controls between 2016 and 2020. This underpins our forecasts for growth in the overall non-life sector, with premiums forecast to reach USD1.9bn in 2020, up from USD1.4bn in 2016.

We are forecasting stronger growth in the small life segment, supported by improving household income rates as well as demographic trends. Life premiums are forecast to reach USD631mn in 2020, up from USD383mn in 2016.

The Romania Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Romania Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Romanian insurance industry.

Key Benefits
Benchmark BMI's independent insurance industry forecasts for Romania to test other views - a key input for successful budgeting and strategic business planning in Romania's insurance market.

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Contact Name: Bill Thompson
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