Romania Insurance Industry – Key Trends and Opportunities to 2026
Romania Insurance Market Report Overview
The gross written premium of the Romania insurance industry was RON14.2 billion ($3.4 billion) in 2021. The market is expected to achieve a CAGR of more than 10% during the forecast period. The Romania Insurance industry research report provides in-depth market analysis, information, insights, and a detailed outlook by product category of the industry. It provides values for key performance indicators such as gross written premium, penetration, premium accepted and ceded, profitability ratios, and premium by line of business, during the review period and forecast period.
The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the economy and demographics of Romania, and provides detailed information on the competitive landscape in the country. The report gives insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.
Romania Insurance Market Outlook
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Key Romania Insurance Industry Trends
Some of the key trends in the Romania insurance industry are the rising popularity of telemedicine, and cyber insurance. Many telemedicine startups have emerged that provide medical care to remote and inaccessible patients through electronic means of communication and other technology. One such startup is Beesers, founded in Bucharest in 2021, which provides access to medical home-care services and telehealth consultations for people with reduced mobility. Romania has seen a spate of cyber-attacks since the Russian invasion of Ukraine. Some travel-related organizations, such as the Romanian Air Traffic Services Administration and Bucharest Airport, have been targeted by a pro-Russian group of hackers known as KillNet. The same group was responsible for taking down the websites of the country’s defense ministry and border police, and the railway firm CFR Calator, in April 2022.
Romania Insurance Industry Segments
The key segments of the Romania insurance industry are life insurance and general insurance. The general insurance segment dominated the total insurance industry.
General Insurance: Based on lines of business, the Romania insurance industry is further sub-segmented into property, motor, liability, financial lines, MAT, personal accident and health insurance, and miscellaneous. The growth of the general insurance segment is driven by the motor insurance line in 2021.
Life Insurance: Life insurance penetration in the country has consistently been quite low when compared to both emerging and developed markets. The key categories of the Romania life insurance industry are endowment, Life PA&H, and life and pension non- categorized.
Romania Insurance Industry Analysis, by Segments
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Romania Insurance Industry - Competitive Landscape
Some of the key insurance companies in the Romania insurance industry are Euroins Romania Asigurare Reasigurare, Allianz-Tiriac Asigurari, Groupama Asigurari, NN Asigurari de Viata, Grawe Romania Asigurare, OMNIASIG, and others. Euroins Romania Asigurare Reasigurare is the largest general insurer.
Romania Insurance Industry Analysis, by Companies
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Romania Insurance Industry Report Overview
| Market Size (2021) | RON14.2 billion ($3.4 billion) |
| CAGR (2021-2026) | >10% |
| Key Segments | Life Insurance and General Insurance |
| Key Companies | Euroins Romania Asigurare Reasigurare, Allianz-Tiriac Asigurari, Groupama Asigurari, NN Asigurari de Viata, Grawe Romania Asigurare, OMNIASIG, and Others |
Segments Covered in the Report
Romania Insurance Industry Segment Outlook (Value, RON Billion, 2021-2026)
- Life Insurance
- General Insurance
Scope
This report provides a comprehensive analysis of the Romania insurance industry –
- It provides historical values for the Romania insurance industry for the report’s 2017-21 review period, and projected figures for the 2021-26 forecast period.
- It offers a detailed analysis of the key categories in the Romania insurance industry, and market forecasts to 2026.
- It profiles the top life insurance companies in Romania and outlines the key regulations affecting them.
Reasons to Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Romania insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Romania insurance industry.
- Assess the competitive dynamics in the Romania insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
Key Players
Table of Contents
Frequently Asked Questions
The gross written premium of the Romania insurance industry was RON14.2 billion ($3.4 billion) in 2021.
The insurance industry of Romania is expected to achieve a CAGR of more than 10% during the forecast period.
The key segments in the Romania insurance industry are life insurance and general insurance.
Some of the key insurance companies in Romania are Euroins Romania Asigurare Reasigurare, Allianz-Tiriac Asigurari, Groupama Asigurari, NN Asigurari de Viata, Grawe Romania Asigurare, OMNIASIG, and others.
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