Brokerage market in 2009: mediations up by 18% and revenues down by 15%
 In 2009, insurance brokers have mediated 36% of the value of the underwritings on the market, up by 6% compared to the previous year. Thus, last year, the volume of mediated premiums amounted to almost RON 3.2 billion (gross written premiums), 18% more than in 2008, according to the National Union of Insurance Brokerage and Consulting Companies (UNSICAR).
Meanwhile, the brokers' income fell by 15% in Euro, on the background of the diminishing of the insurance market in European currency. About 95% of the mediated premiums come from general insurance policies and only 5% from life insurance. Also, at the end of last year, on the insurance brokerage market activated almost 500 companies, over 90% of them being small-sized ones.
"In 2010, I think the share of the mediated premiums will exceed 40% (from about 30% in the previous year), once the role of brokers will become increasingly important. In developed countries, the degree of mediation by brokers is much higher, and in some of them, the brokers are actually the main sales channel of insurance products and services", said Angela TONCESCU, President of the ISC. Last year, ISC has sanctioned about 90 brokers, and to some the authorization has been withdrawn, as a result of deficiencies in their activity.
Author: Oleg DORONCEANU
on 19.03.2010
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