Insurance brokerage market grows by 37% in first nine months, to over 9 billion RON

In the first nine months, insurance dealers brokered over 9 billion RON in gross written premiums, up 37% compared to the same period last year, according to a report published on Tuesday by the Financial Supervisory Authority (ASF).

"The positive dynamics is due both to the increase in the volume of premiums distributed for the general insurance activity (+38%), and for the life insurance segment (+18%)," the report states.

Thus, brokerage companies distributed about 75% of the total volume of gross premiums subscribed by insurers for the two categories of insurance, the largest share being recorded by general insurance for which the degree of distribution was about 88%, told Agerpres.

"If only the premiums distributed for the companies authorized in Romania are taken into account, the degree of distribution on 30.09.2022 was 67%, respectively 78% for general insurance activity and about 13% for life insurance," the authors of the report state.

At the same time, the share of income from the insurance distribution activity in the total volume of premiums distributed at the level of the brokerage market was 16.4% (average commission), in the general insurance segment it was 15.4%, and in the life insurance segment life of 44.8%.