Romanian insurance GWP growth of 16.8% in Q1/2008
According to preliminary data announced by the Insurance Supervisory Commission (CSA) within the first conference of FIAR-International Insurance Reinsurance Forum, gross written premiums in the first quarter of 2008 were RON 2.38 billion (EUR 645.25 million), exceeding the 16.8% recorded for the first three months of 2007.
"It is noticed that the underwriting volume for this first quarter represents about a third of the total for the year 2007, which makes the maintaining of this growing trend in 2008 a very probable assumption", Angela TONCESCU, the CSA President, has stated with the occasion of International Markets Conference held within FIAR.
The claims paid in the same period by the Romanian insurance market stood at RON 998.4 million (EUR 270.63 million), up 22.8% compared with T1/2007.
The volume of gross written premiums for general insurance in Q1/2008 has exceeded RON 1.96 million, with more than 15.08% compared to similar period of 2007, representing 82.5% of total underwritings.
Life insurance class posted GWP of RON 416.66 million up to 31st of March, increasing 25.68% from Q1/2007 and totalizing 17.5% of total insurance market.
According to data published by CSA, gross written premiums for MTPL insurance went up only 6.83% to RON 668 million in the first three months of 2008.
On this class of insurance, the results published by Insurance PROFILE Review indicates a negative evolution in euro of 6.59% compared with market value of MTPL in the first quarter of 2007, when the underwritings growth outran 30%.
Author: Andreea IONETE
on 20.05.2008
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