2014-03-14 11:45:01 - Life Insurance in Romania, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com
The Romanian life insurance segment declined at a CAGR of 1.3% during the review period. This was partly as a consequence of the global financial crisis in 2009, and rising concern over the sovereign debt in the country and other EU member states, which adversely impacted the nations economic development.
A preference for liquid money in economically challenging times also contributed to the negative growth of the segment. However, despite rising concerns over economic conditions in the Eurozone, the International Monetary Fund (IMF) projected stable economic growth for Romania over the forecast period. Romanias GDP at constant prices is expected to grow at annual rates of 1.6%, 2.0%, 2.3%, 2.9% and 3.3% during 2013â2017. This is expected to fuel demand for
life insurance over the forecast period.
â¢ The Romanian life insurance segment declined at a CAGR of 1.3% during the review period
â¢ The written premium of the life insurance segment is expected to increase at a projected CAGR of 6.5% over the forecast period
â¢ The agencies channel is considered the most popular and trusted life insurance distribution channel in Romania
â¢ The principal law governing the insurance industry in Romania is Law no. 32/2000, regarding the insurance business and insurance supervision
â¢ The life segment is highly concentrated with a mixture of domestic and overseas participants
This report provides a comprehensive analysis of the life insurance market in Romania:
â¢ It provides historical values for Romanias life insurance market for the reports 2008â2012 review period and forecast figures for the 2012â2017 forecast period
â¢ It offers a detailed analysis of the key sub-segments in Romanias life insurance market, along with market forecasts until 2017
â¢ 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
â¢ It analyses the various distribution channels for life insurance products in Romania
â¢ Using Porters industry-standard "Five Forces" analysis, it details the competitive landscape in Romania for the life insurance business
â¢ It provides a detailed analysis of the reinsurance market in Romania and its growth prospects
â¢ It profiles the top life insurance companies in Romania and outlines the key regulations affecting them
Reasons to Buy
â¢ Make strategic business decisions using historic and forecast market data related to the Romanian life insurance market and each sector within it
â¢ Understand the demand-side dynamics, key market trends and growth opportunities within the Romanian life insurance market
â¢ Assess the competitive dynamics in the life insurance market, along with the reinsurance segment
â¢ Identify the growth opportunities and market dynamics within key product categories
â¢ Gain insights into key regulations governing the Romanian insurance market and its impact on companies and the markets future
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