INSURANCE Profile: Top companies at nine months
Obviously, figures and market developments are the result of the evolution of each insurance company and, as expected, with some exceptions outside the TOP 10, in the ranking of the first 10 companies on the market, except ASTRA, which increased by over 5% in euro, the other companies have registered declines variating between -0.3% and -34.04%, according to INSURANCE Profile.
The market leader, ALLIANZ-TIRIAC, underwrote EUR 230 million, almost 19% less than the underwritings recorded in the same period last year. The company also lost 0.9 percentage points market share, that is currently 14.64%.
With almost EUR 203 million gross written premiums, OMNIASIG maintained the second position. The company has decreased by 19.6% and it owns, at the end of the analyzed period, a 12.93% share of the insurance market, 0.9 points less than in the same period last year.
By adding the results of ASIBAN and BT Asigurari, GROUPAMA is positioned 3rd in the underwritings hierarchy. Cumulated value of underwritings is nearly EUR 149 million, which represents 9.5% of the insurance market. However, in the cumulated results of the two recently merged companies, it is noted a decrease of almost 24% of the underwritings, and time will prove if the new company will manage to maintain a market share close to that resulting from the addition of the results of BT Asigurari and ASIBAN. After the first 9 months of the year, ASIBAN occupies the 5th place in the market, while BT Asigurari is placed on the 11th position.
Regarding changes in top, ASTRA was able to rise a position, up to the 4th place, BCR Asigurari gained two positions, up to the 5th place, while ASIROM, which recorded an estimated decrease of 34%, lost two positions in the ranking. ING Asigurari de Viata has lost a place in the total ranking of the market, while GENERALI rose a position, up to the 8th place, exchanging places with UNIQA.
Note the evolution of three companies outside TOP 10: CREDIT EUROPE, CERTASIG and EUROINS. With almost EUR 220 million volume of underwritings, EUROINS practically doubled its business volume and climbed 2 positions in the rankings, up to the 11th place. CREDIT EUROPE climbed 3 positions, on the 21st place, while the company CERTASIG has tripled the volume of underwritings and climbed 5 positions in the ranking.
Preliminary results registered by insurance and insurance brokerage companies, in the first nine months of the current year, can be read only in Number 4 of the Specialty Review INSURANCE Profile (www.insuranceprofile.ro).
Author: Vlad BOLDIJAR
on 11.12.2009
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