Insurers underwrote €1.83 billion in gross premiums in this year’s first nine months, which means a 25.58 percent annual increase, computed in national currency. General insurance rose 25.3 percent, while life insurance was up 26.77 percent compared to last year’s first three quarters.

“The need for insurance rises in times of crisis,” Theodor Alexandrescu, General Manager of AIG Life Asigurari Romania, told Business Standard.

According to data provided by CSA, life insurance generated over €361 mln worth of gross underwritten premiums, 19.7 percent of the total market. Premiums underwritten on the general insurance segment reached almost €1.5 billion. Computed in national currency, general insurance registered a 21.72 percent rise compared to the first quarter in 2007, making up 80.8 percent of total market underwriting.