The segments that posted declining gross underwritten premiums in the first nine months outnumber the ones that registered growth, so that the overall insurance market shrank by almost 7%.
Comprehensive auto insurance and insurance covering property
damages hurt the insurance market dynamics the most as gross
underwritten premiums on these segments dropped by over 630m RON
(around 150m euros), according to Insurance Supervision Commission
(CSA) data.
Instead, policies sealed for civil auto liability and civil
liability for naval transportation means, as well as collateral
insurance had a positive impact over the market, capping its
decline to a one-digit rate.
Total turnover on the general insurance segment reached 5.1bn RON
in January-September period, down by 6.8% from the similar period
of 2009. Half of underwritten premiums were registered in Bucharest
and Ilfov county.
On the life insurance segment, where turnover rose by almost 3% in
January-September, to 1.22bn RON, the biggest increases were
registered by health insurance and unit-linked policies.