The Romanian insurance market will decline at least 5% this year, in an optimistic scenario, as the number of civil liability car insurance policies and their prices will drop 20%, said Tuesday Cristian Constantinescu, head of the Romanian union of insurance and reinsurance companies.

"At the end of 2010, I was expecting stagnation in underwritten premiums for this year but recent developments on the market make me less optimistic. In a pessimistic scenario, my expectations for this year point to a 10% decline of the insurance market. In an optimistic scenario, the market will decline just 5%," Constantinescu said.

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