Customers from other states of the European Union paid insurance premiums worth EUR 38.5 million to Romanian insurers in the first half of 2015, up by 12.7% compared to the first six months of 2014.

Nine insurance companies in Romania underwrote insurance premiums in other EU member states. Astra earned the largest gross written premium income from abroad, namely EUR 11.3 million. This represented 29.3% of its total revenues, reports local Economica.net.

Romania’s Financial Supervisory Authority recently revoked Astra’s operating license and asked for the company’s bankruptcy, which means that the company’s foreign clients will have to recover their money from the Guarantee Fund.

Lig Insurance was second in terms of revenues abroad, with EUR 10 million, followed by City Insurance, with EUR 8.5 million.

Romania’s insurance market increased by about 9% in the first half of 2015, to almost EUR 1 billion.

editor@romania-insider.com