The business of the major European groups on the motor insurance market fell to the threshold of EUR 1 billion
 The cumulated value of gross written premiums from motor insurance, in the first half of 2009, of the companies member of the most important European insurance groups present in Romania (ALLIANZ, GENERALI PPF, GROUPAMA, VIENNA Insurance and UNIQA) fell to EUR 1 billion. The figure represents 79.1% of all businesses registered on the motor insurance market (Motor Hull, MTPL and Green Card, added-up), more than 4.5 percentage points less compared to 2008, under the circumstances that all groups except GENERALI PPF recorded market shares decreases.
However, compared to the previous year, when the same insurance groups registered a volume of underwritings on the motor segment of EUR 1.23 billion, there was a nominal decrease in EUR of 15.1%.
VIENNA Insurance Group holds the largest share - 32.46% (underwritings of over EUR 428.6 million), all the three member-companies - OMNIASIG, ASIROM and BCR Asigurari - finding themselves on leading positions in the hierarchy based on the volume of underwritings (OMNIASIG - 2nd place, BCR Asigurari and ASIROM - positions 5 and 6). Cumulated, the motor insurance businesses of the three companies fell by 16%, mainly due to the significant decrease of the ASIROM business on this segment, of 27.8%, but also due to the reduction by 14% of the OMNIASIG business on the motor classes.
The second position in the hierarchy of the insurance groups is occupied by ALLIANZ (17% market share, down one percentage point compared to 2008), the Motor Hull insurance business representing over 75.7% of all businesses on this segment.
Cumulated underwritings on motor insurance of the companies BT Asigurari and OTP Garancia brought to the French group GROUPAMA, on the Romanian profile market, a market share of about 11.4% in 2009, the share of the motor policies in the group's portfolio being 71.4%.
The year 2009 brought to the three companies of the GENERALI PPF holding a volume of motor insurance underwritings of EUR 141 million (10.7% of the total of the market), a nominal decrease of only 6.8%, compared with 2008. ARDAF business contributed with more than half, with underwritings of around EUR 70.5 million, down 19.5% compared to 2008, while GENERALI Asigurari cumulated gross written premiums of EUR 70.5 million.
Regarding the Austrian group UNIQA, it ended 2009 with business on the motor insurance classes worth EUR 101.5 million, 14% below the level of the year 2008, and with a market share of 7.7%.
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Total volume of gross written premiums on motor insurance in 2009 was EUR 1.32 billion, a nominal decrease in euro of over 15%, of which EUR 750 million were correspondent to Motor Hull insurance.
Author: Andreea IONETE
on 12.04.2010
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