4 large groups hold 73% of the motor insurance market
 EUR 261.8 million is the cumulated value of gross written premiums on motor insurance, in the first quarter of 2009, by the companies part of the most important European insurance groups present in Romania (ALLIANZ, GENERALI PPF, GROUPAMA and VIENNA Insurance). The figure represents 73% of all business registered by the motor insurance market (Motor Hull, MTPL and Green Card, cumulated). Compared with the situation recorded in Q1 2008, when the same companies recorded a volume of underwritings on motor insurance of EUR 317.5 million, a nominal decrease in EUR of 17.5% was registered.
The most important share is held by VIENNA Insurance Group - 36% (underwritings of EUR 123 million) -, as all three member-companies present on - OMNIASIG, ASIROM and BCR Asigurari - find themselves in the leading positions of the hierarchy based on the underwritings' volume (OMNIASIG 1st place, BCR Asigurari and ASIROM, 3rd and 4th place). Cumulated, motor insurance business of the three companies have decreased by 8 percentage points, mainly due to the decreases registered by OMNIASIG (-10.3%) and ASIROM (-23.7%).
The second position in the hierarchy of insurance groups is occupied by ALLIANZ (16.4% market share), Motor Hull insurance accounting for over 52% of the total business.
Cumulated underwritings on motor insurance of the companies ASIBAN, BT Asigurari and OTP Garancia brought, for the French group GROUPAMA, a market share of about 10.3%, on the Romanian profile market. To this result, the significant share of these types of policies in the portfolios of the companies is also contributing: 69% for ASIBAN, 75% for BT Asigurari and 88% for OTP Garancia.
The year 2008 represented, for the three companies of the GENERALI PPF holding, a volume of underwritings on motor insurance of over EUR 35.32 million (9.8% of the total market). To this value, the activity of ARDAF on the MTPL insurance segment (underwritings of about EUR 14.5 million) and the activity of GENERALI Asigurari on the segment of Motor Hull insurance (gross written premiums of EUR 10.3 million) have also contributed.
The total volume of gross written premiums on motor insurance in Q1 2009 was of EUR 361.4 million, out of which EUR 190 million correspondent to Motor Hull insurance policies.
Meanwhile, the value of mediated through insurance brokers premiums on motor insurance in Q1 2009 amounted to EUR 104 million, representing 80% of the total brokerage insurance market, according to estimates of INSURANCE Profile.
Author: Vlad BOLDIJAR
on 02.06.2009
Comment this article
0 comments
|
