Property insurance fell by 10% in 2009
 Property insurance, including fire and allied perils insurance and damages to property insurance, accounted for almost 12.3% of the underwritings on the Romanian market in 2009.
According to the Specialty Review INSURANCE Profile, the value of the gross written premiums from the above-mentioned insurance class has exceeded EUR 260 million, about 10% less than in 2008, when insurance companies had underwritten on this class premiums EUR 288 million worth.
Out of the total EUR 260 million, about 85 percent were generated by fire and allied perils insurance, the remaining 15% being attributed to damages to property insurance.
In terms of the hierarchy of insurance companies which have underwritten the risks on these classes, the first 3 companies are ALLIANZ-TIRIAC (with a market share of 17.2%), OMNIASIG (underwritings of EUR 35 million) and ASTRA Asigurari (company that has achieved the most spectacular business growth on this segment: 145% in EUR).
Moreover, the market concentration among the top competitors shows that about 90.3% of total gross premiums written on the property segment are correspondent to the top 10 profile companies.
The complete results of the Romanian insurance market can be read only in Number 1/2009 of the Specialty Review INSURANCE Profile (www.insuranceprofile.ro).
Author: Vlad BOLDIJAR
on 14.04.2010
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