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Increases and decreases on Romanian insurance market

Author

Listed:
  • Gherasim Solovestru DOMIDE

    (Bucharest University of Economic Studies, Romania)

  • Alexandru DOMIDE

    (Rocredit Insurance Broker, Baia Mare, Romania)

Abstract

The present paper proposes to point out the evolution of underwriting in Romania insurance market between 2007 and 2013. In this period, in terms of subscriptions the insurance market had encountered increases and decreases. The number of insurance companies was almost constantly in the period analyzed. There were only stakes transfers between certain European and international financial groups. Some life insurers have withdrawn permanently from the Romanian insurance market, giving up their portfolios to other insurer. From the data analyzed has resulted a strong market concentration throughout the period chosen for the analysis. Over 78% of the subscriptions where performed by only 20% of insurers. Here is recorded, statistically, half of the insurance subscriptions for the Romanian market. Between 2007 and 2013 the number of insurance brokers increased every year. Also the value of the insurance premiums brokered has grown. Even if the insurance market decreased we can say that the value premiums intermediated by the insurance brokers increased from 21% in 2007 to over 47% at the end of 2013.

Suggested Citation

  • Gherasim Solovestru DOMIDE & Alexandru DOMIDE, 2014. "Increases and decreases on Romanian insurance market," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(Special), pages 15-21, June.
    • Handle: RePEc:agr:journl:v:xxi:y:2014:i:special:p:15-21
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    Cited by:

    1. Aurelia Patrascu & Radu-Serban Zaharia, 2016. "Analysis On The Evolution Of Insurance Systems In Romania - The Past Five Years," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 208-213, August.

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