25% insured houses in Romania at July 1st, 2009
The share of insured houses is amounting to nearly 25%, the number of contracts in force being of 1.9 million, out of the estimated total of 8.3 million homes, according to the latest ISC data. Gross written premiums on this segment value RON 240.4 million after the first half of this year, a little less than 38% of the total underwritings on the property line. Also, the average premium paid for insurance contracts rises now to RON 161.
"The insurance company ASTRA Asigurari has a significant contribution to these figures and it has managed to multiply by about 8 times its business on this segment, up to 1.12 million policies, providing household insurance for nearly 15% of the total number of houses in Romania, with an average premium of RON 90 (aprox. 20 EUR)", Albin BIRO, Member of the ISC Board said. Thus, ASTRA Asigurari sold 58.4% of the voluntary household insurance policies in force at June 30th, 2009, the correspondent underwritings volume amounting to over RON 96.4 million.
The company OMNIASIG ranked second based on the number of written policies, with almost 168,000 contracts, followed by ALLIANZ-TIRIAC, with over 117,000 sold policies.
Premiums ceded in reinsurance by Romanian companies amounted to over RON 55 million, representing 23% of the total underwritings. Meanwhile, the total claims paid at the level of the entire market amounts to almost RON 14 million, thus generating a claims rate of 6% and an average claims rate of only RON 7.32, at half year.
Author: Mihai CRACEA
on 13.10.2009
Comment this article
0 comments
|
