Insurance business up 17% in Q1

The local insurance market totaled gross subscribed premiums worth RON 2.3 billion (€645.2 million) in the first quarter of 2008, some 16.8 percent higher year-on-year, while compensations paid amounted to some €271 million, 22.8 percent higher than in January-March 2007, according to Insurance Supervisory Commission President, Angela Tomescu.

Gross premiums subscribed in Q1 2008 made up one third of premiums subscribed in 2007, proving that the insurance market is experiencing significant growth, she said.

For this year, Tomescu estimates 25-26 percent growth on this market, especially for car and life insurance. (NewsIn)