Non-Life Insurance in Romania, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-14 11:46:03
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 nations 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.
â¢ 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 nations economic development
â¢ 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 (2013â2017). This is expected to fuel demand for non-life insurance cover
â¢ Non-life has better penetration in the Romanian insurance industry
â¢ A large proportion of residential property in Romania is yet to be insured
â¢ The non-life insurance segment, which accounts for a significant share of the Romanian insurance industry, is highly concentrated
This report provides a comprehensive analysis of the non-life insurance market in Romania:
â¢ It provides historical values for Romanias non-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 non-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 non-life insurance products in Romania
â¢ Using Porters industry-standard "Five Forces" analysis, it details the competitive landscape in Romania for the non-life insurance business
â¢ It provides a detailed analysis of the reinsurance market in Romania and its growth prospects
â¢ It profiles the top non-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 non-life insurance market and each sector within it
â¢ Understand the demand-side dynamics, key market trends and growth opportunities within the Romanian non-life insurance market
â¢ Assess the competitive dynamics in the non-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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