(MENAFNEditorial)
Whilst we anticipate modest growth in total premiums written towards the latter part of our forecast period in US dollar terms the overall outlook for the profitability of the sector remains bleak. On a brighter note Romania has the largest presence in the SEE (South East Europe ) top 100 insurers with 21 entrants the highest being Astra SA ranked at number 6.
None of the trends that are evident in the non-life segment which dominates Romania's insurance sector are positive. As a consequence of cut-throat competition prices in the unprofitable motor related sector continue to fall. Several of the market players sensibly are trying to refocus their business on non-motor lines. However in a patchy economy volumes and prices are slipping in a number of non-motor lines. All this is at a time that the insurers are coming under greater scrutiny from the Autoritatea de Supraveghere Financiara (ASF - the regulator) through a formal Asset Quality Review (which will be completed by mid-2015) and other official initiatives. The government plans to establish CEETAR a monopoly agency that will undertake all assessments of damaged motor vehicles. If this proposal which both insurers and insurance brokers are opposing strenuously goes ahead we believe that the likely impact will be a deterioration in the loss ratios of motor insurers . Surprisingly foreign companies are still seeking a foothold in the Romanian market. Taking a five-year view we would be surprised if there is not significant consolidation in what is currently a fragmented landscape.
Full Report Details at
- http://www.fastmr.com/prod/924273_romania_insurance_report_q1_2015.aspx?afid=101
The main trend in the smaller less developed life segment is continuing low overall growth in premiums. Households' and companies' appetite for the offerings of the life insurers has been curbed by the still generally difficult economic environment. Crucially a major problem remains the low level of income of many households who cannot therefore afford life insurance. Nevertheless we note...
The Romania Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments key growth drivers and risk management projections including the macroeconomic situation government policy regulatory environment and the level of development and potential for growth broken down by line. Leading insurers are profiled covering premiums products and services and competitive positioning.
BMI's Romania Insurance Report provides professionals consultancies government departments regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Romanian insurance industry.
Key Benefits
* Benchmark BMI's independent insurance industry forecasts for Romania to test other views - a key input for successful budgeting and strategic business planning in Romania's insurance market.
* Target business opportunities and risks in Romania through our reviews of latest industry trends regulatory changes and major deals investments and macroeconomic developments.
* Exploit latest competitive intelligence on your competitors partners and clients via our Company Profiles (inc. SWOTs KPIs and latest activity).
Coverage
BMI Industry View
Summary of BMI's key industry forecasts and views covering the Life and Non-Life segments the evolving competitive landscape and business operational risks.
Industry SWOT Analysis
Analysis of the major Strengths Weaknesses Opportunities and Threats within the insurance sector and within the broader political economic and business environment.
Regional Outlook
Individual analysis of both Life and Non-Life insurance sector developments and prospects across developed states and emerging markets - supported by BMI's global industry growth forecasts. This is followed by an in-depth evaluation of region- and country-specific trends focusing on BMI's country-by-country market growth data.
Business Environment Rankings
BMI's Insurance Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (Life and Non-Life) in the insurance market.
The rankings methodology makes sophisticated use of over 40 industry economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.
BMI Industry Forecasts
Historic data series (2008-2012) and forecasts to end-2018 for key industry and economic indicators (see list below) supported by explicit assumptions plus analysis of key risks to the main forecasts. Indicators include:
Premiums: Total (US$mn) growth (% y-o-y) penetration (% of GDP) density (US$ per capita) for Life and Non-Life sectors and total premiums.
Life: Data on gross written premiums for all major non-life segments (e.g. motor fire work).
Non-life: Data on gross written premiums for all major life segments (e.g. life retirement).
Economic: Nominal GDP (US$bn) real GDP growth (%) GDP per capita (US$) population (mn) unemployment (%) exchange rate (against US$).
Competitive Landscape & Rankings
Illustration of the insurance industry via rankings tables comparing gross written premiums by company (US$mn) and market share (%). This chapter also includes in-depth regional analysis of the market position business strategies and investment potential of the leading insurance companies.
Company Profiles
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles enabling a full evaluation of recent company performance and future growth prospects.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts we provide quick and easy access to the best competitive intelligence available. Our unbiased expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.