ALLIANZ-TIRIAC, OMNIASIG and ASIROM hold about 50% of the motor insurance market
The amount of gross written premiums of the motor insurance classes (MTPL plus Green Card and Motor Hull) was, in the first six months of 2008, EUR 732.73 million, which represents a nominal change, in EUR, of about 17% compared to the results recorded in the similar period of the previous year, according to the Insurance PROFILE magazine.
Thus, these types of policies represented approximately 61% of the underwritings realized on the market in the period January-June 2008. Also, the concentration of the market between the first competitors shows that 47.17% of the total gross written premiums in the motor insurance segment are owned by the top three companies (ALLIANZ-TIRIAC, OMNIASIG and ASIROM), while the claims paid on this segment of insurance has raised in the analyzed period, up to approximately EUR 347.84 million.
The market hierarchy on this class of insurance is the following: with a market share of over 18%, the leader of the motor insurance market is ALLIANZ-TIRIAC Asigurari. The company recorded, in the first half of the year, underwritings of EUR 135.85 million, representing a decrease in EUR of around 1.85%, compared to the results obtained in H1/2007.
With a nominal evolution in EUR of 58% in gross written premiums on the motor segment, representing a volume of around EUR 131 million, and with a market share of 17.87% in H1/2008, OMNIASIG occupies the second place. It is followed in top by ASIROM, a company that underwrote a volume of EUR 78.88 million in motor insurance, in the analyzed period.
The complete first-half results of the Romanian insurance market can be read only in Number 3/2008 of the Specialty Magazine Insurance PROFILE.
| TOTAL Motor Insurance H1/2008: CASCO, MTPL and Green Card | No. | Company | Gross Written Premiums | Market share in H1/2008 | Weight in total PBS | H1 2008 | H1 2007 | Nominal evolution in EUR | Real evolution RON | mil. EUR | mil. RON | mil. EUR | mil. RON | 1 | ALLIANZ-TIRIAC | 71.38 | 135.85 | 498.69 | 138.41 | 461.16 | -1.85 | -0.43 | 18.54 | 2 | OMNIASIG | 78.19 | 130.93 | 480.63 | 82.91 | 276.25 | 57.91 | 60.19 | 17.87 | 3 | ASIROM | 72.05 | 78.88 | 289.57 | 71.56 | 238.43 | 10.23 | 11.82 | 10.77 | 4 | UNITA | 83.87 | 61.80 | 226.87 | 59.91 | 199.62 | 3.15 | 4.64 | 8.43 | 5 | BCR Asigurari | 77.71 | 55.52 | 203.82 | 53.11 | 176.97 | 4.53 | 6.04 | 7.58 | 6 | ARDAF | 91.46 | 54.32 | 199.39 | 19.13 | 63.72 | 183.99 | 188.08 | 7.41 | 7 | ASTRA-UNIQA | 73.16 | 50.53 | 185.51 | 45.01 | 149.97 | 12.27 | 13.89 | 6.90 | 8 | ASIBAN | 58.47 | 48.28 | 177.24 | 49.59 | 165.23 | -2.64 | -1.24 | 6.59 | 9 | BT Asigurari | 77.30 | 33.96 | 124.68 | 30.70 | 102.30 | 10.62 | 12.21 | 4.64 | 10 | GENERALI | 56.37 | 32.59 | 119.64 | 35.65 | 118.79 | -8.59 | -7.27 | 4.45 | | TOTAL TOP 10 | | 682.67 | 2,506.01 | 585.99 | 1,952.45 | 16.50 | 18.18 | 93.17 | | TOTAL | 60.95 | 732.73 | 2,689.79 | 626.56 | 2,087.63 | 16.95 | 18.63 | 100.00 | | Source: Insurance PROFILE |
Author: Vlad BOLDIJAR
on 28.10.2008
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