Insurance market at 1.26bn euros after 7 months

The insurance market amounted to 5.3 billion RON (1.26 billion euros) seven months into this year, according to the latest data from the Insurance Supervisory Commission (CSA), after July saw insurers underwrite 759.2 million RON (180 million euros) in premiums, 8% more than in the previous month. CSA requires insurers to report gross underwritten premiums on a monthly basis as of this year, whilst before reports were sent on a quarterly basis. Claims settled by insurers in July amounted to 468 million RON (110 million euros), up 9% against June. In the first seven months of the year, overall claims settled amounted to over 3.4 billion RON (815 million euros). “The market had a good progression, considering that it is on a rise against the similar period of last year, although we are not talking about two-digit growth. From talks we have had with insurers, September appears to have been a better month than the others,” said Angela Toncescu, chairperson of CSA, in an interview given to ZF.