Insurance market in Romania, untouched by the international crisis

Insurance premiums at the European level have continued the declining trend in the first half of 2008, according to the latest study of insurance markets conducted by Marsh, the largest insurance broker in the world. However, the report underlines the fact that some trends have been accelerated by U.S. real estate crisis. Cheap general trend registered in recent years will be over soon

Translation

The authors expect the prices to grow in the near future, and the current crisis just approaches the time of change. If the majority of European states have been passing through a period of cheap due to increased competitiveness for some time, the situation in Romania is not at all similar.

Prices on the insurance market in Romania remained relatively constant in the first half of the year. "The only change is the price for cars segment. Both products type CASCO, and the RCA suffers from the constantly increasing damages. Thus, the premium quotas have also increased," explained Cristian Fugaciu, general manager for Marsh Romania (photo).

The study was conducted based on the results collected in the first semester. There are clear signs of American influence crisis and its escalating may have an effect upon insurance markets in Europe. Marsh, the largest company in the insurance brokerage and risk consultancy, is a group of companies belonging to Marsh & McLennan Companies (MMC).