The total volume of underwriting activity on the insurance market stood at 16.9 billion lei in the first nine months of 2024, of which 81% represent gross premiums subscribed for general insurance activity, and 19% are for life insurance, according to the report published on Tuesday by the Financial Supervision Authority.
"The dynamic of the underwriting activity was positive in the first nine months of 2024, compared to the similar period of the previous year, increasing by 11%, supported by the advance recorded by the gross premiums subscribed by the companies authorized by the ASF (+9%) , as well as the increase in the volume of gross premiums subscribed by branches operating in Romania (+25%)", the report states.
Regarding the solvency of the insurance companies authorized and supervised by the ASF, the rates at the level of the insurance market were maintained above unity at the end of September 2024, Agerpres informs.Compared to the similar period of the previous year, the SCR rate decreased, due to the faster growth of the solvency capital requirement (+29%) compared to the dynamics of own funds eligible to cover the solvency capital requirement (+23%).
The liquidity indicator for general insurance activity (2.99) decreased slightly compared to the situation recorded at the end of 2023 (3.14). The value of liquid assets increased by 14%, and the short-term obligations of insurers increased by 20%. In the case of life insurance activity, the indicator increased. The improvement in liquidity for the life insurance business took place on the back of a 15% increase in liquid assets, while short-term liabilities increased at a slower rate (+13%) compared to the end of 2023."Insurance companies in Romania invest predominantly in fixed-income instruments, mainly in government bonds, which hold a weight of about 66% in the total value of investments on September 30, 2024," the ASF report states.