Insurance market in Romania could reach 7.5 billion euros in gross premiums written (GPW) in the next nine years, president of the Insurance Surveillance Commission (CSA), Angela Toncescu said.
- Publicitate -
CSA estimates a 25-26 percent market hike this year against the year before especially for the car and life insurance segments. The growth rate will temper in the following two years, Toncescu said. The increase of the life insurance segment shows people's awareness hiked too, Toncescu explained.
Almost 20 insurance companies increased their share capital by 153 million euros in 2007. The first ten insurance companies on the market own almost 80 percent of the general and life insurance market. Last year 84 to 85 percent of the drivers inked RCA policies and 10 to 12 percent of the houses were secured.
Six Romanian companies angle to operate within the European Union of which five on the general insurance segment and one on life insurance, Toncescu said. The companies are AIG, Omniasig, City Insurance, Asito Capital, Asitrans and AIG Life.
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