Insurance market goes in time back three years to less than 2bn euros -
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News » February, 2011 » 25 February 2011

Insurance market goes in time back three years to less than 2bn euros
25.02.2011, 00:02 | Insurance | 597 views

Insurance companies' underwritten premiums fell by 5.7% last year, to 8.36 billion lei (1.98 billion euros), because of lower sales of auto policies, according to data of the Insurance Supervisory Commission (CSA). The insurers' business returned to the 2007 level, when they first exceeded the 2 billion-euro mark.

Estimates for this year show the insurance market is most likely to stagnate or register 1-2% growth.

"The underwriting activity was affected by the start of the crisis and I expect that, as the economic context improves, the market will return to growth," said Angela Toncescu, CSA chairperson.


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