Romanian Car Damages Account For Some 90% Of General Insurance Indemnities

The value of damages covered by insurance companies for all classes of general insurance reached RON1.889 billion in the first six months of the year, up 24.1% on the January – June period of 2007.

According to the Commission, the greatest growth was registered for air transportation vehicles, namely 758.36%, to RON25.15 million. For this case, the share held grew by more than one percentage point, to 1.3%.

Loan insurance registered the greatest decrease in the share held among all damages covered, from 16.1% at the end of June 2007 to 3.9%, after a 69.6% decrease in the amount of indemnities paid, to RON74.5 million.

Throughout the entire market, indemnities paid for general insurance held a 94.9% share, up 0.5 percentage points on June 2007.

In the first half of the year, the sums paid by insurers as indemnity for life insurance policies grew by 13.5%, to RON101.5 million, and the share decreased from 5.6% to 5.1%.

The total amount of indemnities for general insurance and life insurance grew in the first half of the year, to RON1.99 billion, up 23.55% on the level registered in the similar interval of the previous year.

Revenues collected from subscriptions by insurance companies grew by 22.3% in the first six months, to RON4.42 billion.