subject: Romania Insurance Market Intelligence - Market Research Reports On Aarkstore Enterprise [print this page] Romania Insurance Market Intelligence "The insurance industry of Romania has been growing at an impressive rate. This growth was broadly based on overall economic growth of the Romanian economy. Rise in the employment rate, along with the rising wages, has increased money supply with the households, which, in turn, has increased consumption and the notable fall in the inflation rate has increased the potential of savings. All these factors have helped the growth in the insurance industry of Romania. The low penetration level is also providing abundance of opportunities for the insurance market. Low level of density in comparison to other European countries is another important factor to aid the growth of life assurance, savings and other products.
Romanian insurance market consists of two segments, general insurance and life insurance, with the former being the dominating between the two. The general insurance segment further consists of property insurance, motor insurance, liabilities, credit and warranties and other lines of insurance. Motor insurance, which dominates the entire insurance market in Romania, has also grown considerably as a result of increasing vehicles sales and the rising demand of cars as the household income and consumption is increasing in the country. Unit-linked products have gained considerable popularity in addition to the market share. The government of Romania has formulated the law on compulsory home insurance, which would make the insurance of the house mandatory for the owner of the house. This would further add to the increment of the total insurance market of the country.
The present report gives an overview of the insurance market of Romania along with the analysis of Romanias political structure and economic growth. The report provides an insight into the market size and growth in insurance premiums as well as life and non-life premiums. Insurance premiums are discussed in terms of life and non-life segments and the density and penetration levels. The various developments and drivers are also discussed and finally the projections regarding premium growth are given.
By combining SPSS Inc.s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of Romanias insurance industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry and its sub-segments life and non-life insurance. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
Table of Contents :
1. Industry Snapshot
1.1 Industry Structure
1.1.1 End of State Monopoly with Changes in Legislation
1.1.2 Formation of Insurance Commission
1.1.3 Pillar System in the Pension Market
1.2 Market Overview
1.2.1 Market Size & Growth
1.2.1.1 Notable Growth Reflecting Financial Stability of Industry
1.2.1.2 Increased Interest and Participation of the Romanian Households
1.2.1.3 Less Exposed to the Domestic Securities and Real Estate Markets
1.2.1.4 Growth in Industry Expected to Fall Heavily, Forecasted Drop in Sales of Auto Insurance
1.2.2 Market Segments
1.2.2.1 Dominated by Non-Life Segment, Motor Insurance Largest Share
1.2.2.2 High Growth in Life Segment, Shift in Demand towards Traditional Life Insurance Policies
1.2.3 Market Density & Penetration
1.2.3.1 Low Insurance Density, Penetration Rates Compared to More Mature Western European Markets
1.2.3.2 Increasing Penetration Levels but Lowest Penetration in the CEE Region
1.2.4 Market Share
1.2.4.1 Highly Concentrated Insurance Market
1.2.4.2 Life More Concentrated than Non-Life
1.2.4.3 Major Reshuffle in the Top 10 Ranking Positions in Insurance
1.2.4.4 Health Insurance, Motor Among the Most Concentrated Segments
2. Industry Analysis
2.1 Industry Developments
Compulsory Home Insurance
BCR Sells Insurance Subsidiary to Vienna
Uniqa to Enter Life Insurance Market in 2009
Cap on Brokerage Fees for Compulsory Third Party Motor Liability Insurance
2.2 Market Drivers
Growing Economy Fuelling Market Growth
Increase in Economically Active Population
Rising Demand of Cars
Property Insurance to Be Made Mandatory
3. Country Analysis: Risk Assessment
3.1 Political Environment
3.2 Macro-Economic Indicators: Current and Projections
4. Industry Outlook: Forecast and Projections
4.1 Rising Consumption and Investments, Rising Working Population to Boost the Market Growth
4.2 Introduction of Compulsory Home Insurance to Drive Housing Insurance Market Growth
List of Table
Top 10 Players by GWP in Life Insurance (2008)
Top 10 Players by GWP in Non-Life Insurance (2008)
Top Insurers in Romania by Turnover for 1H 2009
Top Market Players and Market Share
Key Macroeconomic Indicators: (2005 2010P)
Basic Economic Facts about Romania (2008)
List of Charts
Annual Premium Romania Insurance Industry: (2000-2008)
Romanian Gross Insurance Premium: (Q1 2009 vs. Q1 2008)
Romania Insurance Premium by Segment (2000-2008)
Romania General Insurance Market Share by Segments (1H 2008 - Gross Written Premium)
Romania Life Insurance Share by Segments (2008 - Net Premium Market)
Romania Insurance Density (US$): (2000 2008)
Romania Insurance Penetration: (2001 2008)
Voluntary Pension Funds Market Share by Assets (2008)
Top 4 Motor Insurance Players by GWP (1Q 2009)
Romania GDP Growth (2000-2008)
Romania Population Growth (2000-2008)
Vehicle Sales Growth in Romania: (2000-2008)
Romania Finished Dwellings Growth (2002-2008)
Romania Dwellings Stock Growth (2000-2008)
Forecast: Romania Insurance Industry: (2008A 2012F)
Romania Life & Non-Life Insurance Industry: (2008A 2012F)
