ALLIANZ-TIRIAC, OMNIASIG and GROUPAMA, about 45% of the motor insurance market
The value of gross written premiums from motor insurance classes (MTPL, Green card and Motor Hull, added-up) was, in the first nine months of 2009, of EUR 985 million, which represents a nominal evolution, in European currency, of about - 12.4% compared to the results registered in the correspondent period of the previous year, according to Specialty Review INSURANCE Profile.
Thus, these types of policies accounted for approximately 63% of the underwritings made in the market during January-September 2009, respectively 76% of total gross written premiums of general insurance. Moreover, market concentration among the top competitors shows that 45% of total gross written premiums on the motor insurance segment is owned by the companies on the first three places (ALLIANZ-TIRIAC, OMNIASIG and GROUPAMA).
Market hierarchy on this insurance class is the following: with a market share exceeding 17%, the market leader of motor insurance is ALLIANZ-TIRIAC Asigurari. The company recorded, in Q3/2009, underwritings of EUR 169 million, representing a decrease, in European currency, of about 16%, compared with the financial results obtained in Q3/2008.
Similar nominal decreasing evolutions were also registered by the occupants of the next two positions, OMNIASIG (-16%) and GROUAPAMA (-15%).
At the level of the insurance brokerage market, motor insurance generated 80% of all business of brokers (about EUR 380 million).
Preliminary results recorded by insurance and insurance brokerage companies, in the first 9 months of this year, can be read only in Number 4 of the Specialty Review INSURANCE Profile (www.insuranceprofile.ro).
Click here to find the TOP 10 of insurance and insurance brokerage companies in Romania for Q3/2009.
Author: Vlad BOLDIJAR
on 15.12.2009
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