2013-03-01 17:13:43 - Recently published research from Timetric, "The Insurance Industry in Romania, Key Trends and Opportunities to 2017", is now available at Fast Market Research

The Romanian insurance industry registered a decline in terms of gross written premium during the review period due to reduced corporate spending on insurance policies, the closure of numerous businesses, and a slowdown in bank lending activity. The decline was further aggravated by the turbulent economic conditions in the country and the EU debt crisis. The Romanian insurance industry remains underdeveloped compared with Western European countries, and the low level of penetration reflects a potential opportunity for global insurers, especially given the country's liberal polices relating to private participation. The Romanian insurance industry is predominantly composed of multinational insurers, with just a small proportion of revenue generated by domestic companies.


Full Report Details at
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Key Highlights

* The Romanian

insurance industry registered a decline in terms of gross written premium during the review period due to reduced corporate spending on insurance policies, the closure of numerous businesses, and a slowdown in bank lending activity.
* The decline was further aggravated by the turbulent economic conditions in the country and the EU debt crisis.
* The Romanian insurance industry remains underdeveloped compared with Western European countries, and the low level of penetration reflects a potential opportunity for global insurers, especially given the country's liberal polices relating to private participation.
* The Romanian insurance industry is predominantly composed of multinational insurers, with just a small proportion of revenue generated by domestic companies.

Scope

This report provides a comprehensive analysis of the insurance industry in Romania:

* It provides historical values for the Romanian insurance industry for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
* It offers a detailed analysis of the key segments and categories in the Romanian insurance industry, along with industry forecasts until 2017
* It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions
* It profiles the top insurance companies in Romania and outlines the key regulations affecting them

Reasons to Purchase

* Make strategic business decisions using in depth historic and forecast industry data related to the Romanian insurance industry and each segment within it
* Understand the demand-side dynamics, key market trends and growth opportunities within the Romanian insurance industry
* Assess the competitive dynamics in the Romanian insurance industry
* Identify the growth opportunities and market dynamics within key segments
* Gain insights into key regulations governing the Romanian insurance industry and its impact on companies and the industry's future

Companies Mentioned in this Report: ING Nederlanden Asigurari de Viata SA, VIG BCR Life Insurance, Alico Insurance Romania, Astra Asigurari, Allianz Tiriac

Partial Table of Contents:

1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Romanian Insurance Industry Overview
3.1 Insurance Industry
3.2 Key Industry Trends and Drivers
3.3 Challenges
4 Legislation, Supervision and Control
4.1 Legislation Overview and Historical Evolution
4.2 Legislation Trends by Type of Insurance
4.2.1 Life insurance regulatory trends
4.2.2 Property insurance regulatory trends
4.2.3 Motor insurance regulatory trends
4.2.4 Liability insurance regulatory trends
4.2.5 Marine, aviation and transit insurance regulatory trends
4.2.6 Health insurance regulatory trends
4.3 Compulsory Insurance
4.3.1 Compulsory motor third party liability insurance
4.3.2 Compulsory insurance of dwellings against earthquakes, landslides and flooding
4.4 Supervision and Control
4.4.1 International Association of Insurance Supervisors
4.4.2 European Insurance and Occupational Pensions Authority
4.4.3 Insurance Supervisory Commission
5 Non-Admitted Insurance Regulatory Trends
5.1 Overview
5.2 Intermediaries
5.3 Market Practices
5.4 Fines and Penalties
6 Company Registration and Operations
6.1 Types of Insurance Organisation
6.2 Establishing a local company
6.3 Foreign Ownership
6.4 Types of License
6.5 Capital Requirements
6.6 Solvency Margins
6.7 Reserve Requirements
6.8 Investment Regulations
6.9 Statutory Return Requirements
7 Taxation
7.1 Insurance Premium or Policy Taxation
7.2 Corporate Tax
7.3 VAT
7.4 Captives
8 Legal System
8.1 Introduction
8.2 Access to Court
8.3 Alternative Dispute Resolution (ADR)
9 Life Insurance
9.1 Life Insurance Growth Prospects
9.1.1 Individual life insurance
9.1.2 Individual marriage and birth insurance
9.1.3 Individual unit-linked insurance
9.1.4 Group life insurance
9.1.5 Individual single-premium products
9.1.6 Individual non-single-premium products
9.1.7 Group non-single-premium products
10 Non-Life Insurance
10.1 Non-Life Insurance Growth Prospects
10.1.1 Property insurance
10.1.2 Fire and allied perils insurance
10.1.3 Other property insurance
10.2 Motor Insurance
10.2.1 Motor hull insurance
10.2.2 Motor third-party insurance
10.3 General Third-Party Insurance

Full Table of Contents is available at:
-- www.fastmr.com/catalog/product.aspx?productid=544604&dt=t

About Timetric

Timetric is an independent economic and business research firm providing critical intelligence on emerging economies and key global industries. They provide detailed economic and sector intelligence, business insights and authoritative, independent commentary. View more research from Timetric at www.fastmr.com/catalog/publishers.aspx?pubid=1037

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

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