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Assessment Of The Romanian Insurance Market Pre- And Post-Crisis

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  • BILEVSKY GABRIELA

    (INSTITUTE FOR ECONOMIC FORECASTING-NIER, ROMANIAN ACADEMY, BUCHAREST, ROMANIA)

Abstract

This study highlights the developments of the main indicators specific to the insurance market (insurance penetration degree, gross written premiums, gross claims paid, loss rating, insurance density, market concentration degree) during 2007-2017. In order to have an overview of the Romanian insurance market, we also carried out an analysis of the hierarchy of market leaders from 2017 compared to 2009. The year 2009 was selected for this comparison in order to capture the magnitude of market transformations, as this was the year when the consequences of the economic crisis were felt, and also the year when the gross premiums written in Romania dropped for the first time. The economic and financial crisis in 2008 created changes in the hierarchy of the top 10 companies, some of those with a significant share in the previous period (for instance, ASTRA with 9,13%) entering bankruptcy, others opting for mergers (ING, BCR Asigurari). At the end of the analyzed period, in 2017, the post-crisis recovery of the insurance market led to a stronger concentration.

Suggested Citation

  • Bilevsky Gabriela, 2018. "Assessment Of The Romanian Insurance Market Pre- And Post-Crisis," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 21-28, August.
    • Handle: RePEc:cbu:jrnlec:y:2018:v:4:p:21-28
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    Cited by:

    1. Gabriela-Mihaela MURESAN, 2019. "Public Perception Of Insurance In Romania: A Survey Of Insurance Consumers And Non-Consumers," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(21), pages 1-5.

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