MTPL, 3Q/2009: Premiums increase by 15% and claims by 33%
In the first nine months of this year, the MTPL segment remained one of the most important ones for the insurance market in Romania, as underwritings went up by 15%, to RON 1.6 billion, in the same time with an increase of 33% of the amount of paid claims, up to RON 1.1 billion. The average premium increased by 15% compared to the equivalent period of 2008, in the same period, according to ISC data.
Insurers paid more than 253,800 claims files, out of the total of 271,715 approved in the analyzed period, 8% more than in the first three quarters of 2008, the average paid claim advancing by 23%, to RON 4,356.
"The average premium on the segment of motor third party liability (MTPL) has increased by about 15% in the first nine months of this year, and until the end of 2009 we foresee no more increases. I think the claims rate on MTPL did not frighten the insurers and they have had sufficient reserves to practice correct rates", stated the ISC President, Angela TONCESCU.
Approved claims reserves totaled RON 835 million in the first nine months, up by 22% compared to the corresponding period of the previous year.
Author: Andreea IONETE
on 20.11.2009
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