10% increase for AON Romania, in 2009

AON Romania, one of the most important insurance brokers on the local profile market, reported an increase of about 10% of the mediated premiums in 2009, totaling RON 136 million. Meanwhile, the company's turnover amounted to about RON 12 million, an evolution of 12% compared with 2008.

"We didn't have customers that completely gave up insurance in the previous year, eventually there was a restriction of the number of insurance classes to cover major exposures. We had situations in which we reduced insurance costs by renegotiating premiums, taking advantage of the fact that property insurance market was and still is very competitive and/or by modifying the franchizes", Karina ROSU, CEO, AON Romania, told us.

The company's portfolio structure hasn't undergone changes from 2008, property insurance having a slight increase of 2% of the share, due to the CAR policies for a number of infrastructure projects.
Among the problems facing the Romanian brokerage market, the quoted official mentioned the lack of coherence in quotations obtained from insurers, as well as limited capacity for large projects. "Often, insurers practice direct undewriting, which puts us in a difficult situation in front of our clients and can even cause us their loss in some situations", mentions Karina ROSU.

Regarding 2010, she estimates a decline of up to 5% of the overall market in the first three quarters, the primary objective of both insurers and brokers being the maintenance and the effective management of existing portfolios.

Also, "there are significant opportunities in the market, by increasing the number of complex projects, with high value, from infrastructure and energy, which will make the involvement of international brokers more and more necessary". Also, "there is potential (untill the end of the year or even in 2011) on the market of employee benefits, because the labor force becomes more sophisticated and the demands of employers and employees are evolving", completes Karina ROSU. 
 

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