Loan and collateral insurance dropped by an annual 53% in this year’s first three quarters

This substantial decline, especially on the consumption loan insurance segment, is a result of major losses generated by this type of policy, due to an increase in arrears of loans taken out by individuals and companies.

Leaders of the loan and collateral insurance market are the Asiban, Omniasig, and Garanta companies, which have market shares of over 68 percent and €30.8 million in gross premium income.

BCR Asigurari, which recently became part of the portfolio of Vienna Insurance Group (VIG), lost the leading position it obtained in 2007, and currently ranks fourth, with €4.07 mln in gross premium income at the end of September, down 90 percent year-on-year.