This evolution could lead to an increase of over 100 percent by 2012, compared to 2007. “The main factors to sustain the growth of general insurances segment between 2008-2012 are the anticipated advance of GDP per capita, from some €99.72 billion to €145.40 bln and the higher penetration degree of this segment,” the report shows.
Several companies are operating on the Romanian general insurances market, but none of them is market leader, which differentiates Romania from countries like Bulgaria and Poland, BMI states.
One of Romania’s strong points is opening to international companies, the “excellent” laws in the area, a competitive business environment. Furthermore, the economy is rapidly growing.
The main disadvantage of the local insurances segment is a low growth rate, compared to other states in Central and Eastern Europe.
