18.24% decline on the Motor Hull segment in 2009
 Underwritings on the voluntary motor insurance segment (Motor Hull) were situated last year at EUR 790.11 million, down 18.24% compared to 2008. Of those, 94.8% were made by the top 10 companies on the market, according to the Specialty Review INSURANCE Profile.
Regarding the evolution in RON, a decrease was also registered, not as pronounced as the one in European currency. Thus, if in 2008 the total of premiums stood at RON 3.55 billion, last year it fell by 10.91%, to the value of RON 3.37 billion.
The first position in the ranking was held by the company ALLIANZ-TIRIAC, with underwritings of EUR 169.4 million (21.44% market share), followed by OMNIASIG, with a GWP volume of EUR 149.9 million (18.97% market share). Ranked third was GROUPAMA, with underwritings of EUR 98.8 million (12.5% market share). The top of the first 10 companies has been completed, in order, by BCR Asigurari, ASTRA Asigurari, UNIQA Asigurari, ASIROM, GENERALI, ARDAF and EUROINS.
With this decrease, the level of underwritings almost returned to the level registered in 2007, when the companies on the Romanian insurance market had managed to reach a total volume of EUR 785 million. So the crisis has also affected the insurance market, mostly at the level of two important distribution channels used by companies: the fall of the leasing activity in 2009 and bank loans. These led to the situation where gross written premiums correspondent to the year 2009 were with only EUR 5 million over the 2007 level.
In 2009, claims registered a substantial increase. Thus, on the Motor Hull segment, RON 2.9 billion have been paid, up by 17% compared to 2008, and on the MTPL the claims growth was of 27%, to RON 1.5 billion.
Author: Mihai CRACEA
on 09.04.2010
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