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ASF: Insurance market grew by 8%, to 11 billion lei in 2019

The insurance market grew by 8% last year, compared to 2018, to 11 billion lei, the growing trend being pointed out in previous year, said Cristian Rosu, the vicepresident of the Financial Supervision Authority (ASF), at the conference “Quo Vadis Insurance Market in 2020”.

General insurance and life insurance represented a continuous growth of 7-8%. General insurances are dominated by car insurances, and RCA had an increase of only 5% in the market.

City Insurance is the main player with 17.34% of total market and 39% of total RCA. The second competitor is Allianz Tiriac, with a market share of 12.43%, followed by Omniasig with 11.9% and Euroins with 11.66%, the company being the second player in the RCA market, with a share of 32-33%.

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