The mandatory car insurance sector (RCA) recorded gross written premiums of over EUR 448 million in Romania in the first half of this year, up by 33% compared to the same period last year.

The RCA market accounts for more than half of the general insurance sector in Romania.

The segment saw higher revenues despite a deterioration in the damage ratio in the second quarter. During this period the gross written premiums exceeded EUR 224 million.

The number of RCA contract amounted to 2.7 million at the end of June, up 5.6% year-on-year. The average RCA premium reached EUR 178 in mid-2016, 34% higher than in the first quarter of 2015 and 6.2% higher than in the first quarter of 2016.

The average compensation paid by insurers reached a historical peak during this period, namely over EUR 1,770, up 18.4% compared to the first quarter of 2015 and 15% compared to the first three months of this year.

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editor@romania-insider.com