Romanian Insurance Market

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Romanian insurance market (charts)

The continued challenging economic conditions in Romania were also reflected in the insurance market in 2010, where non-life insurance and the overall market declined in the first three quarters. With under 20%, life insurance made a relatively small contribution to the premium volume but shows great development potential over the long term.

2010 saw the sale of Omniasig Life completed. Despite this step and the difficult economic situation, the Vienna Insurance Group was able to maintain its market leadership and is number 1 in Romania, with a market share of 26.9%. Strong gains in life insurance were recorded in particular by BCR Life. In this segment, the Vienna Insurance Group increased its market share to 24.3% and ranks in an excellent second place.