Hierarchy changes on MTPL in 2009
In 2009, the hierarchy of the companies has suffered strong modifications on the only market segment where increases were recorded: MTPL insurance. Thus, the new leader of the MTPL market became ASTRA, OMNIASIG ranked second, while EUROINS climbed 6 positions, up to the 3rd place.
Besides the changes in rankings, it is interesting to observe the top of the companies that have increased the most in absolute value on MTPL in the previous year. EUROINS has increased its MTPL business with around EUR 30 million, up 110%.
CARPATICA Asig ranks second in the top of new-business on MTPL in 2009 and has evolved on the above-mentioned segment by 240% compared to 2008.
Meanwhile, the MTPL market leader ranks third in the above-mentioned hierarchy, with an increase of MTPL business of about EUR 24 million and with a nominal growth of 56%.
But one thing that attracts attention is the share that MTPL holds in the portfolio of the first two companies that have increased the most on this class: 83.14% of the EUROINS businesses, and over 76% of the CARPATICA Asig ones.
According to the Specialty Review INSURANCE Profile, the increase recorded for MTPL was about 6% in EUR, that is a plus of almost EUR 30 million for the insurers' businesses. Thus, the MTPL share in the portfolio on insurance classes increased by 4.5 percentage points, to 25% of the total underwritings.
Author: Vlad BOLDIJAR
on 06.04.2010
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