ASF: 16 insurers registered combined losses of RON 735 mln in Romania last year

Newsroom 04/10/2016 | 12:01

The Romanian insurance market closed last year in the red, as 16 firms registered overall RON 735 million losses, says the data of the Financial Supervision Authority (ASF).

The profit of the other 20 insurance companies amounted to RON 466.97 million, says News.ro.

The biggest losses were registered by the big companies on the Mandatory Insurances on Cars Civil Liability (RCA), where Euroins registered the poorest results in 2015, with losses of almost RON 300 million.

Following Euroins, Carpatica Asig registered losses of RON 204.4 million in 2015, LIF Insurance registered RON 51.4 million, ), Asirom Vienna insurance Group registered RON 50.5 million losses and AXA Life Insurance RON 45.4 million.

On the other hand, the most profitable Romanian insurance companies were last year Metropolitan Life, with a positive result of RON 178.2 million, Allianz Tiriac with RON 81.75 million, Generali Romania, which registered RON 68 million, BCR Life Insurance with RON 21.7 million, PAID with RON 21 million and NN Life Insurances with RON 18.6 million.

The National Union of Insurance and Reinsurance Companies from Romania said that the losses on RCA segment were due to the high damages, which overpassed the policies charges.

The ASF data shows that in the last year the RCA prices increase trend overpassed significantly the damages increase trend.