Boston, MA -- (SBWIRE) -- 07/29/2013 -- The Romanian non-life insurance segment declined at a CAGR of -2.7% during the review period. This was due to the global financial crisis in 2009 and rising concern over sovereign debt in the country and other European Union (EU) member states, which adversely impacted the nation's economic development. Growth in the segment was also adversely affected by the rapid decline in passenger car sales. According to the European Automobile Manufacturers' Association (ACEA), car sales in the EU declined by an average of 8.2% in 2012, while the situation was poorer in Romania, declining by 18% in the same year. Furthermore, falling property prices in Romania have had a negative impact on property insurance sales, which subsequently influenced overall growth in the segment.

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Key Highlights

- The Romanian non-life insurance segment declined at a CAGR of -2.7% during the review period. This was due to the global financial crisis in 2009 and rising concern over sovereign debt in the country and other European Union (EU) member states, which adversely impacted the nation's economic development
- Romanian GDP at constant prices is expected to grow at annual rates of 1.6%, 2.0%, 2.3%, 2.9% and 3.3% over the forecast period (2013-2017). This is expected to fuel demand for non-life insurance cover
- Non-life has better penetration in the Romanian insurance industry
- A large proportion of residential property in Romania is yet to be insured
- The non-life insurance segment, which accounts for a significant share of the Romanian insurance industry, is highly concentrated

Scope

This report provides a comprehensive analysis of the non-life insurance market in Romania:

- It provides historical values for Romania's non-life insurance market for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in Romania's non-life insurance market, along with market forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for non-life insurance products in Romania
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Romania for the non-life insurance business
- It provides a detailed analysis of the reinsurance market in Romania and its growth prospects
- It profiles the top non-life insurance companies in Romania and outlines the key regulations affecting them

Reasons to Get This Report

- Make strategic business decisions using historic and forecast market data related to the Romanian non-life insurance market and each sector within it

Companies Mentioned in this Report: Astra Asigur?ri, Allianz-?iriac Asigur?ri SA, Omniasig VIG SA, Asirom Vienna Insurance Group SA, BCR Asigur?ri de Via??, Generali Asigur?ri SA, Uniqa Asigur?ri SA, Carpatica Asigur?ri SA

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