2008: Historical losses for the insurance market
The insurance market will record losses in 2008, as well. The statement
belongs to Denis ROUSSET, General Manager, BT Asigurari, who estimates
that the negative results will reach "historical values" this
year.
"Against the background of these repeated losses, the insurers
will begin to redirect their actions towards a profit gain in 2009,
but
taking into consideration the fact that the insurance process is a
long and complex one, we shall have to wait quite a long time until
the Romanian market scores a profit", Denis ROUSSET stated.
In 2007, for the second year in a row, the insurance industry registered
a negative financial result, respectively a net loss of RON 253 million
(approximately 75,8 million EUR) that represents 3,5% compared to the
total of gross written premiums.
This net loss is a result of the 2007 situation, when the life insurance
activity has diminished the technical profile to RON 66 million (compared
to 106 mil. lei in 2006), and the general insurance activity has registered
a net technical loss of approximately RON 324 million. Compared to the
subscriptions' volume in the general insurance segment, the net technical
loss in 2007 represented 5.7%, being 3.7% in 2006.
Author: Mihaela CIRCU
on 11.07.2008
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