Romanian insurers take greater risks: less than 8% of premiums were ceded in reinsurance
 The annual growth of the premiums that were ceded in reinsurance was
significantly reduced from 49% in 2006 to 7.97% in 2007. At the same
time, the share of total premiums that were ceded in
reinsurance dropped last year from 26.2% to 24.04%. It is clear that, for non-life insurance companies assumed greater risks.
The total value of reinsurance premiums was RON 1.72 bil., while gross written premiums on the insurance market reached RON 7.18 bil., according to the 2007 CSA Annual Report.
The growth for non-life reinsurance premiums dramatically dropped from over 51% in 2006 to 7.33% in 2007. In this way, insurers were more confident in their own capability to pay claims from their resources, with a 70.62% retention rate.
The highest rate of reinsurance was registered for CASCO insurance, representing 43.87% of the total premiums, in comparison to 34% in the previous year.
The property segment was reinsured in a 12.7% proportion, while in 2006 it reached 18.7%.
We can see the fat that reinsurance premiums for credits dropped by 26.92% in 2007, while their volume increased by 60%.
For life insurance, reinsurance premiums totaled RON 42.44 mil., growing by 41.51% compared to 2006.
Author: Andreea IONETE
on 30.10.2008
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