Insurers' business stagnate but claims leap 40%

Gross premiums underwritten by insurers in the first nine
months of this year stagnated at 6.7 billion RON (1.6 billion
euros) compared with the similar period of 2008, whilst claims
settled jumped 38.6%, to 4.43 billion RON (around 1.1 billion
euros), according to data from the Insurance Supervisory Commission
(CSA). “We believe the progression of payments made to the insured
is more than sufficient proof that insurance companies were and
still are able to meet their contractual obligations,” said Angela
Toncescu, chairperson of the CSA, as quoted by Mediafax. In the
January-September period, gross premiums underwritten on the
general insurance segment rose by a small margin, to 5.5 billion
RON, while premiums underwritten on the life insurance segment fell
by almost 10%, to less than 1.2 billion RON, said the chairperson
of CSA. Claims settled on the general insurance segment leapt by
almost 37%, to 3.92 billion RON. Around a third of payments made on
the general insurance segment were accounted for by auto liability
insurance claims.