Personal Accident and Health Insurance in Romania, Key Trends and Opportunities to 2020

  • ID: 4283052
  • Report
  • Region: Romania
  • 137 pages
  • GlobalData
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FEATURED COMPANIES

  • Ergo Asigurari SA
  • Generali Romania SA
  • Groupma Asigurari SA
  • Uniqa Asigurari SA
  • MORE
The 'Personal Accident and Health Insurance in Romania Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Romanian personal accident and health insurance segment, and a comparison of the Romanian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Romanian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together The research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary:

The 'Personal Accident and Health Insurance in Romania, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Romanian personal accident and health insurance segment, including:

- An overview of the Romanian personal accident and health insurance segment
- The Romanian personal accident and health insurance segment’s growth prospects by category
- A comprehensive overview of the Romanian economy and demographics
- A comparison of the Romanian personal accident and health insurance segment with its regional counterparts
- The various distribution channels in the Romanian personal accident and health insurance segment
- Details of the competitive landscape in the personal accident and health insurance segment in Romania
- Details of regulatory policy applicable to the Romanian insurance industry

Scope:

This report provides a comprehensive analysis of the personal accident and health insurance segment in Romania:
- It provides historical values for the Romanian personal accident and health insurance segment for the report’s 2011-2015 review period, and projected figures for the 2015-2020 forecast period.
- It offers a detailed analysis of the key categories in the Romanian personal accident and health insurance segment, and market forecasts to 2020.
- It provides a comparison of the Romanian personal accident and health insurance segment with its regional counterparts
- It provides an overview of the various distribution channels for personal accident and health insurance products in Romania.
- It profiles the top personal accident and health insurance companies in Romania, and outlines the key regulations affecting them.

Reasons To Buy:

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

Key Highlights:

- The personal accident and health segment is the smallest in Romania’s insurance industry, accounting for 3.4% of its direct written premium in 2015.
- On March 15, 2017, the Financial Supervisory Authority (Autoritatea de Supraveghere Financiara - ASF) introduced a regulation that amended and supplemented Regulation No. 21/2016 concerning reporting requirements for insurance and reinsurance companies. The regulation stipulates financial audit requirements for insurance and reinsurance companies.
- The penetration rate of the personal accident and health insurance segment stood at 0.042% of GDP in 2015.
- Brokers were the leading distribution channel in the personal accident and health segment during the review period, due to the high level of consumer trust, vast service network and experience of the segment.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Ergo Asigurari SA
  • Generali Romania SA
  • Groupma Asigurari SA
  • Uniqa Asigurari SA
  • MORE
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Profitability
4.2.4 Assets and investments
5 Outlook by Category
5.1 Personal Accident Insurance
5.1.1 Premium
5.1.2 Policies
5.2 Health Insurance
5.2.1 Premium
5.2.2 Policies
5.3 Travel Insurance
5.3.1 Premium
5.3.2 Policies
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
7 Competitive Landscape
7.1 Company Profiles
7.1.1 Metropolitan Life Asigurari SA - company overview
7.1.2 Omniasig Vienna Insurance Group SA - company overview
7.1.3 Allianz-Tiriac Asigurari SA - company overview
7.1.4 Signal Iduna Asigurari de Viata SA - company overview
7.1.5 Ergo Asigurari SA - company overview
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance
8.4.2 Air carriers and aircraft operators insurance
8.4.3 Insurance of dwellings against earthquakes, landslides and flooding
8.4.4 Nuclear liability insurance
8.4.5 Social security insurance
8.4.6 Professional indemnity insurance for alternative investment fund managers
8.4.7 Professional indemnity insurance for insurance intermediaries
8.4.8 Liability for ships with respect to oil pollution
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 European Insurance and Occupational Pensions Authority
8.5.3 Financial Supervisory Authority
8.5.4 Federation of European Risk Management Associations
8.5.5 National Association of Insurance and Reinsurance Companies
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution
9 Databook
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Personal Accident Insurance
9.5 Health Insurance
9.6 Health Insurance by Product
9.7 Travel Insurance
10 Definitions and Methodology
10.1 Definitions
10.2 Methodology
11 About
11.1 Contact
11.2 About
11.3 Services
11.4 Disclaimer

List of Tables:
Table 1: Romanian Personal Accident and Health Insurance - Key Facts, 2015
Table 2: Romanian Personal Accident and Health Insurance - Top Insurers, 2015
Table 3: Romanian Government Credit Ratings
Table 4: Romanian Personal Accident and Health Insurance - Gross Written Premium (RON Million and US$ Million), 2011-2015
Table 5: Romanian Personal Accident and Health Insurance - Penetration (%), 2011-2015
Table 6: Romanian Personal Accident and Health Insurance - Gross Written Premium (RON Million and US$ Million), 2015-2020
Table 7: Romanian Personal Accident and Health Insurance - Penetration (%), 2015-2020
Table 8: Romanian Personal Accident and Health Insurance - Premium per Capita (RON and US$), 2011-2015
Table 9: Romanian Personal Accident and Health Insurance - Premium per Capita (RON and US$), 2015-2020
Table 10: Romanian Personal Accident and Health Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 11: Romanian Personal Accident and Health Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 12: Romanian Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2015
Table 13: Romanian Personal Accident and Health Insurance - Profitability Ratio (%), 2015-2020
Table 14: Romanian Personal Accident and Health Insurance - Total Assets (RON Million and US$ Million), 2011-2015
Table 15: Romanian Personal Accident and Health Insurance - Total Assets (RON Million and US$ Million), 2015-2020
Table 16: Romanian Personal Accident and Health Insurance - Investment Portfolio (RON Million), 2011-2015
Table 17: Romanian Personal Accident and Health Insurance - Investment Portfolio (RON Million), 2015-2020
Table 18: Romanian Personal Accident and Health Insurance - Direct Written Premium by Category (RON Million),2011-2015
Table 19: Romanian Personal Accident and Health Insurance - Direct Written Premium by Category (RON Billion), 2015-2020
Table 20: Romanian Personal Accident Insurance - Direct Written Premium (RON Million and US$ Million), 2011-2015
Table 21: Romanian Personal Accident Insurance - Direct Written Premium (RON Million and US$ Million), 2015-2020
Table 22: Romanian Personal Accident Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 23: Romanian Personal Accident Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 24: Romanian Health Insurance - Direct Written Premium by Sub-Category (RON Million), 2011-2015
Table 25: Romanian Health Insurance - Direct Written Premium by Sub-Category (RON Million), 2015-2020
Table 26: Romanian Health Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
Table 27: Romanian Health Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
Table 28: Romanian Travel Insurance - Direct Written Premium (RON Million), 2011-2015
Table 29: Romanian Travel Insurance - Direct Written Premium (RON Million), 2015-2020
Table 30: Romanian Travel Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 31: Romanian Travel Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 32: Romanian Personal Accident and Health Insurance - Top Insurers, 2015
Table 33: Metropolitan Life Asigurari SA - Key Facts
Table 34: Metropolitan Life Asigurari SA - Key Financials (RON Million), 2010-2014
Table 35: Omniasig Vienna Insurance Group SA - Key Facts
Table 36: Omniasig Vienna Insurance Group SA - Key Financials (RON Million), 2010-2014
Table 37: Allianz-Tiriac Asigurari SA - Key Facts
Table 38: Allianz-Tiriac Asigurari SA - Key Financials (RON Million), 2010-2014
Table 39: Signal Iduna Asigurari de Viata SA - Key Facts
Table 40: Ergo Asigurari SA - Key Facts
Table 41: Romania - Insurance Regulatory Framework Key Features
Table 42: Romania - Life Insurance Regulatory Framework
Table 43:Romania - Property Insurance Regulatory Framework
Table 44: Romania- Motor Insurance Regulatory Framework
Table 45: Romania - Life Insurance Regulatory Framework
Table 46: Romania - Liability Insurance Regulatory Framework
Table 47: Romania - Minimum Coverage for Aircraft Third-Party Liability Per Accident and Aircraft
Table 48: Romania - Corporate Tax Rates for the Financial Year 2017
Table 49: Romanian Personal Accident and Health Insurance Industry - Policies and Premium, 2011-2015
Table 50: Romanian Personal Accident and Health Insurance Industry - Policies and Premium, 2015-2020
Table 51: Romanian Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
Table 52: Romanian Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
Table 53: Romanian Personal Accident and Health Insurance - Assets and Investments, 2011-2015
Table 54: Romanian Personal Accident and Health Insurance - Assets and Investments, 2015-2020
Table 55: Romanian Personal Accident and Health Insurance - Personal Accident Insurance, 2011-2015
Table 56: Romanian Personal Accident and Health Insurance - Personal Accident Insurance, 2015-2020
Table 57: Romanian Personal Accident and Health Insurance - Health Insurance, 2011-2015
Table 58: Romanian Personal Accident and Health Insurance - Health Insurance, 2015-2020
Table 59: Romanian Personal Accident and Health Insurance - Health by Product, 2011-2015
Table 60: Romanian Personal Accident and Health Insurance - Health by Product, 2015-2020
Table 61: Romanian Personal Accident and Health Insurance - Travel Insurance, 2011-2015
Table 62: Romanian Personal Accident and Health Insurance - Travel Insurance, 2015-2020
Table 63: Insurance Industry Definitions

List of Figures:
Figure 1: Romanian Real GDP (RON Billion), 2011-2020
Figure 2: Romanian Consumer Price Inflation (%), 2011-2020
Figure 3: Romanian Current Account Balance as Percentage of GDP (%), 2011-2016
Figure 4: Romanian Unemployment Rate, 2011-2020
Figure 5: Romanian Population by Age Group, 1992-2025
Figure 6: Romanian Personal Accident and Health Insurance Penetration - Regional Comparison (%), 2015
Figure 7: Romanian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 8: Romanian Personal Accident and Health Insurance - Gross Written Premium (RON Million), 2011-2020
Figure 9: Romanian Personal Accident and Health Insurance - Penetration (%), 2011-2020
Figure 10: Romanian Personal Accident and Health Insurance - Premium per Capita (RON), 2011-2020
Figure 11: Romanian Personal Accident and Health Insurance - Number of Policies Sold (Thousand), 2011-2020
Figure 12: Romanian Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2020
Figure 13: Romanian Personal Accident and Health Insurance - Total Assets (RON Million), 2011-2020
Figure 14: Romanian Personal Accident and Health Insurance - Investment Portfolio (RON Million), 2011-2020
Figure 15: Romanian Personal Accident and Health Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 16: Romanian Personal Accident and Health Insurance - Direct Written Premium by Category (RON Million), 2011-2020
Figure 17: Romanian Personal Accident and Health Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 18: Romanian Personal Accident Insurance - Direct Written Premium (RON Million), 2011-2020
Figure 19: Romanian Personal Accident Insurance - Number of Policies Sold (Thousand), 2011-2020
Figure 20: Romanian Health Insurance - Direct Written Premium by Sub-Category (RON Million), 2011-2020
Figure 21: Romanian Health Insurance - Direct Written Premium Dynamics by Sub-Category, 2011-2020
Figure 22: Romanian Health Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2020
Figure 23: Romanian Travel Insurance - Direct Written Premium (RON Million), 2011-2020
Figure 24: Romanian Travel Insurance - Number of Policies Sold (Thousand), 2011-2020
Figure 25: Romania - The Three Pillars of Solvency II
Figure 26: Romania - Insurance Supervision and Control at Various Levels
Figure 27: Romania - Insurance Regulatory Frameworks for Company Registration and Operation
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  • Metropolitan Life Asigurari SA
  • Omniasig Vienna Insurance Group SA
  • Allianz-Tiriac Asigurari SA
  • Signal Iduna Asigurari de Viata SA
  • Ergo Asigurari SA
  • Compania de Asigurari-Reasigurari Exim Romania SA
  • Generali Romania SA
  • Uniqa Asigurari SA
  • Groupma Asigurari SA
Note: Product cover images may vary from those shown
5 of 4
Note: Product cover images may vary from those shown
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