Insurance market to triple in ten years
Romanian insurance market will triple in ten years and will
totalize EUR 7.5 billion, according to estimation made by Insurance Supervising
Commission (ISC).
"Insurance market will reach a total amount of EUR 7.5 billion
in premiums till 2017, which represent a medium increasing
rate of 13-15% in euro", Angela TONCESCU, President, ISC, pointed,
quoted by XPRIMM News.
According to preliminary results for 2007, local insurance
market totalized gross written premiums of RON 7.17 billion (EUR 2.15 billion).
"The insurance penetration rate - revenues from premiums as
a percentage of GDP - for 2007 is estimated at 1.77%, compared
to 1.67% a year earlier, at the same time, insurance density
(average premium expenditures
per person) totaled RON 333, an increase from RON 266 in 2006",
ISC's President marked.
The evolution and development perspectives of the Romanian
insurance industry will be closely debated and analyzed on panel - conference "International
Markets", on may 20, at the International Insurance-Reinsurance Forum,
held in Sinaia.
Author: Mihaela CIRCU
on 08.05.2008
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