EUR HALF BILLION IN 9 MONTHS
 Characteristics and structure
The Romanian insurance mediation market has reached, after the first nine months of the year, a total amount of mediated premium of EUR 500 million, according to INSURANCE Profile estimation. Compared to the same period of last year, in January - September 2008, the real growth of the business was 65.81%, while the nominal growth in euro was 61.29%. Also, the insurance mediation market represents, more than 27.23% from the gross written premium by the all Romanian insurance companies.
During the first three quarter of the year, life insurance mediation market overcome an amount of EUR 6.56 million, representing 1.31% from the total of Romanian insurance brokerage market. The non-life business represents more 98.69% for the total amount of the whole mediation market: EUR 493.44 million.
According to our estimations, more than 80% of mediated premium are from motor insurance (Motor Hull and MTPL, added-up). The premium mediated from the mentioned insurance class summed during the first nine months of the year 2008 more than EUR 402 million. At the same time, the property insurance line (fire, allied perils and damages to property, added-up) share about 8.83% from the insurance brokers business (EUR 44.14 million).
But the most significant insurances segments for the mediation branch, as reffering to the share of this classes in the total amount of premiums written by the insurance companies was the goods in transit insurance (including cargo, baggage and any other goods transportation), amounting more than EUR 4.77 million and the general liability class (EUR 14.11 million). The mediated premiums from the both lines represented more than 3.77% from the market, and 58.10% from the premium written, for goods and transit insurance line, and 54.76% for general liability insurance field.
Unchanged hierarchy
The hierarchy registered by the Romanian mediation market, witnessed in the past 9 months no major changes in the TOP of the companies ranked by gross mediated premiums. Hand in hand, according to financial data reported from 60 companies (about 76.58% of market) to INSURANCE Profile Review, the first five mediation companies - PORSCHE BROKER, MARSH ROMANIA, UNICREDIT INSURANCE BROKER, AON ROMANIA and VBL BROKER - accounted more than 40% of the estimated insurance mediation market's share.
The TOP 10 mediedion companies was completed by INK CONSULTANTA, OLSA RE, GRAS SAVOYE ROMANIA, EURIAL BROKER and GTT INSURANCE, toghether, the first 10 companies in the market, held 54.90% of the industry in market share and totaled mediated premium that amounted EUR 274.5 million.
PORSCHE BROKER remains the market leader, whit gross mediated premiums from motor insurances (85% Motor Hull and 15% MTPL) totaling almost EUR 75 million.
MARSH ROMANIA, recorded during the analyzed period an estimated nominal increase in European currency of about 60%. Also, in the first nine months of 2008, the volume of mediated premium carried out by the company exceeding EUR 47.34 million. The classes of insurance which have substantially contributed to the growth recorded by the company are motor insurances (Motor Hull and MTPL, added-up), which represents 44.17% of the total portfolio, with mediated premiums of EUR 20.91 million, credit and warranties insurance (25.95% in total portfolio) and general liability insurance, whose share is of 12.25%, and that generated business of about EUR 5.80 million.
UNICREDIT INSURANCE BROKER, the third player on the market has succeded during the first nine months of 2008 almost EUR 39.5 million.
The insurance brokerage company AON Romania has mediated, in the first nine months of this year, a volume of premiums of EUR 23.30 million, which represents a real evolution, in national currency, of 8,68% compared to the same period of 2007. The company's portfolio is dominated by motor insurance (76.22%), EUR 13.23 million from mediated premiums coming from Motor Hull insurance, which means 55,80%, EUR 4.52 million representing intermediated premiums for MTPL, with a share of 19,41%.
As in the first half of the year, the fifth player in the market is VBL Broker. The company mediated premium that amounted ofver EUR 20.57 million. VBL Broker recorded in the analysed period a strong nominal increase in European currecy of 26.55% as compared with period January-September 2007.
Author: Vlad BOLDIJAR
on 03.12.2008
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