More than EUR half billion for the mediation market
 The Romanian insurance mediation market has reached, after the first nine months of this year, a total amount of mediated premium of EUR 550 million, according to INSURANCE Profile estimation. Compared to 3Q2010, the business turnover decreased by 3.7%in real terms, while the nominal change in European currency was also negative: -0.90%. Concluding, the insurance mediation market represents, more than 38% from the gross written premium by the all Romanian insurance companies.
In this period, life insurance mediation market overcame an amount of EUR 15 million, weighting 2.85% in the overall mediated premium. However, insurance brokers have generated more than 5% of total life insurance market. On this segment, the first three brokerage companies are KUNDEN Broker, PIRAEUS Insurance Broker and MARSH Romania, that generated, added-up, about 43% of the total analyzed market
The non-life business represents more 97.15% for the total amount of the whole mediation market: EUR 534.33 million. According to INSURANCE Profile estimations, more than 72% 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 2011 were almost EUR 400 million. At the same time, the property insurance line (fire, allied perils and damages to property, added-up) share about 16% from the insurance brokers business (EUR 88.24 million).
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 53 companies (about 55% of market) to INSURANCE Profile Review, the first five mediation companies were PORSCHE Broker, MARSH Romania, UNICREDIT Insurance Broker, AON Romania and SAFETY Broker. These companies accounted 25% of the insurance mediation market's share.
The TOP 10 mediation companies was completed by DESTINE Broker, GRAS SAVOYE Romania, PIRAEUS Insurance Broker, AIR Broker and TRANSILVANIA Broker, together, the first 10 companies in the market, held 35% of the industry in market share and totaled mediated premium that amounted EUR 192 million.
Income from brokerage activity, reported by 41 insurance brokerage companies, totaled RON 172 million (EUR 41 million), of which 88% were related to income from insurance and reinsurance contracts negotiation.
At the same time, the income reported by the two companies specialized on the loss-adjusters segment (AVUS INTERNATIONAL and CORIS ROUMANIE) totaled RON 5 million (EUR 1.2 million).
More news and statistics about Romanian insurance market.
Author: Vlad BOLDIJAR
on 08.12.2011
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