about us | newsletter | contact | archive | members area
Gabriel Pantelimon, Xerox
Romania has also become known for its high quality human resources»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Romanian insurance sector doubles profit in 2017

The insurance sector in Romania doubled its net profit last year to 508 million RON (110 million Euro) from 251 million RON in 2016, according to profit.ro.

2018-06-15 11:58:45

Between 2006 and 2015, the local insurance sector recorded losses every year, which amounted to a total 3 billion RON. The worst year was 2013, when the losses reached 1.15 billion RON.

Of the 30 insurance companies that operated on the local market last year, 24 recorded profits, up from 19 in 2016, while only 6 were on a loss, down from 11 in the previous year. The profits totaled 560 million RON while the losses amounted to 52 million RON, resulting in an overall net result of 508 million RON.

The profit increase mainly came from the mandatory car insurance (RCA) sector. Euroins, the second-biggest player on this segment, recorded a net profit of almost 100 million RON, over three times higher than in 2016, while segment leader City Insurance went from 38 million RON losses in 2016 to a 17 million RON net profit in 2017.

The most profitable insurer in 2017 was Allianz-Tiriac, which ended the year with a net profit of 161 million RON, up by 65 per cent year-on-year.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  477 Views
Daily Info
Porsche Engineering Romania relocates its headquarters in Cluj-Napoca

Two years after its official opening event, Porsche Engineering Romania inaugurated its new headquarters in Vivido Business Center in Cluj.

Dacia posts half-year sales record

Dacia posted a half-year sales record in Europe with 281,225 vehicle registrations (up 14.6 per cent) and a record 2.9 per cent share of the market, according to world sales r...

Industry 4.0: EIB supports construction of new Arctic factory in Romania

The European Investment Bank (EIB) is lending 68 million Euro to white goods producer Arctic to finance the construction of a large-scale washing machine production plant feat...

CTP invests in the facilities and infrastructure from CTPark Bucharest West

CTP continues to strengthen its position on the domestic market through a series of major investments in the development of CTPark Bucharest West. Currently, the property's bu...

Renault becomes the official automobile partner of Paris Saint-Germain

Paris Saint-Germain and Renault have signed an official partnership, linking the two organisations for the next three seasons.

 
 
   
advertising

advertising

advertising

advertising

More on News
Anca Jurma named interim chief prosecutor of Romanian anti-corruption agency

Prosecutor Anca Jurma has been named the interim chief prosecutor of the Romanian anti-corruption agency (DNA) following an order by the General Prosecutor Augustin Lazar. ...

2 Comments

Engie acquires Romanian IoT company Flashnet, specialized in Smart Public Lighting

ENGIE announces the acquisition of 60 per cent of Flashnet, a Romanian Internet of Things (IoT) company.

Dacia posts half-year sales record

Dacia posted a half-year sales record in Europe with 281,225 vehicle registrations (up 14.6 per cent) and a record 2.9 per cent share of the market, according to world sale...

Romanian M&A market speeds up in Q2, says Deloitte

The M&A market in Romania marked a significant recovery in the second quarter of this year, reaching 391 million Euro, compared with 258 million Euro in the first three mon...

1 Comment

Healthy Central European private equity activity levels set to continue, says Deloitte

The strong momentum underway in Central Europe's private equity markets should continue, according to the latest Deloitte Central Europe Private Equity Confidence Survey.

1 Comment

CEZ Group in Romania ended 2017 at a net profit level

CEZ Group in Romania ended 2017 with better results than in 2016 at a net profit level. Last year brought for CEZ Group in Romania a profit before interests, taxes, depreci...

2 Comments

Enel reaches one million residential customers on Romania free electricity market

Enel Energie and Enel Energie Muntenia announced reaching the mark of one million household customers on the free electricity market in Romania.

2 Comments