The difficult economic situation in Romania primarily affects motor vehicle own-damage insurance, as considerable decreases were recorded in the new car and leasing markets. The motor vehicle liability segment, in turn, is dominated by extremely high competitive pressure. At more than 60%, the ratio of motor vehicle to total non-life premium volume is still very high. On the other hand, at around 20%, the ratio of life insurance to total premium income is very low, which means there is high growth potential in this segment over the long term.
In terms of local currency, premiums written rose by 1.4% year-on-year in the 1st-3rd quarter of 2012. An increase of 1.7% was recorded in the non-life segment, and 0.3% in the life segment.
Average per capita expenditures for insurance in Romania were EUR 86 in 2011. EUR 67 of this amount was for non-life insurance and EUR 19 for life insurance.