Romania's insurance market continues to grow in Q1

Gross premiums written on the local insurance market amounted to 2.42 billion lei in the first quarter, up 1.46 percent over the similar period last year, as the advance of the general insurance offset the drop on the life segment, NewsIn informs.
The insurance market had GPW of 2.38 billion lei after the first three months of 2008.

According to data from the market watchdog CSA, premiums from general insurance added 3.02 percent in the first quarter to 2.03 billion lei, while those for life insurance lowered 5.91 percent to 392.31 million lei.

More than 75 percent of the GPW from general insurance were on the auto segment, including RCA policies. Premiums for RCA policies amounted to 716.95 million lei in the first quarter, up 9 percent year-on-year.

As many as 2.1 million RCA policies were inked in the first three months, representing renewals and new contracts, down 2 percent over the similar period in 2008, according to CSA.

Players on Romania's insurance market recorded GPW of 8.78 billion lei last year, a 22.4 percent hike over 2007.

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