about us | newsletter | contact | archive | members area
Nicolae Ghibu, Certsign
Regulations will come gradually and will cover all areas»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Romanian insurance sector doubles profit in 2017

The insurance sector in Romania doubled its net profit last year to 508 million RON (110 million Euro) from 251 million RON in 2016, according to profit.ro.

2018-06-15 11:58:45

Between 2006 and 2015, the local insurance sector recorded losses every year, which amounted to a total 3 billion RON. The worst year was 2013, when the losses reached 1.15 billion RON.

Of the 30 insurance companies that operated on the local market last year, 24 recorded profits, up from 19 in 2016, while only 6 were on a loss, down from 11 in the previous year. The profits totaled 560 million RON while the losses amounted to 52 million RON, resulting in an overall net result of 508 million RON.

The profit increase mainly came from the mandatory car insurance (RCA) sector. Euroins, the second-biggest player on this segment, recorded a net profit of almost 100 million RON, over three times higher than in 2016, while segment leader City Insurance went from 38 million RON losses in 2016 to a 17 million RON net profit in 2017.

The most profitable insurer in 2017 was Allianz-Tiriac, which ended the year with a net profit of 161 million RON, up by 65 per cent year-on-year.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  1358 Views
Daily Info
Smart city is not a fad, it's a necessity

In June 2018, the ranking of the most "smart" cities in the world was published. In other words, the most advanced cities in terms of human capital, social cohesion, the econo...

Ondrej Safar, CEZ Group: "Romania can become a hub for international smart solutions providers"

"We are already in the digital age, so the upward trend of implementing smart solutions is inevitable in all areas," he tells The Diplomat-Bucharest. "Especially in terms of u...

Telekom Romania, a strong supporter of Smart City development in Romania

Just like many other countries in the world Romania is now facing an unprecedented growth of the urban population, which can be both beneficial and detrimental for the society...

In the industrial era, the fight was for finite material resources. Not anymore

Now organizations fight and develop themselves for and around their talent. In a nutshell, getting ahead in today's business world is all about attracting and inspiring an e...

Richard Sareczky, Mol Limo: "We look at expansion locations across CEE including Romania"

Consumer mobility behaviour is changing, leading to up to one out of ten cars sold in 2030 potentially being a shared vehicle and the subsequent rise of a market for fit-for-p...

 
 
   
advertising

advertising

advertising

More on News
President Iohannis urges Romanians to be more united, stay involved in modernizing Romania

Romania's President Klaus Iohannis urged Romanians in France to be more united and stay involved as much as they are now in helping modernise Romania.

OTP Bank Romania signs investment funds distribution deal with Eurobank Fund Management Luxembourg

OTP Bank Romania signed a partnership with Eurobank Fund Management Company (Luxembourg) for the distribution of investment funds in Romania. Thus, from December 1st, OTP B...

Fondul Proprietatea expresses disappointment over Engie listing rejection

Fondul Proprietatea is disappointed with the decision taken by the majority shareholder of Engie SA, Romania Gas Holding B.V., to oppose the listing of the company, accordi...

Europe must become a producer of new technologies, not just a consumer of technologies, says EC

Europe must become a producer of new technologies, not just a consumer of technologies, said Gerard de Graaf, Director for the Digital Single Market in Directorate-General ...

FDI in Romania rises 10 per cent after ten months in 2018

Non-residents' direct investment in Romania (net FDI) totaled 4.56 billion Euro in January-October 2018, around 10 per cent more compared to the same period of 2017, Romani...

Catrina, MCSI: Romania is ready to roll up its sleeves and work during the presidency of the EU Council

Romania is ready to roll up its sleeves and work during the presidency of the Council of the European Union (EU), said Maria Manuela Catrina, State Secretary at the Ministr...

Two billion youth risk of being left behind in the Fourth Industrial Revolution workforce, says Deloitte

Almost two billion youth worldwide risk of being left behind in the Fourth Industrial Revolution (Industry 4.0) workforce, which is changing at an increasingly rapid pace a...

1 Comment