The top ten players on the insurance market last year underwrote gross premiums worth 1.31bn euros on a market worth 1.6bn euros, considering that 41 insurance companies were active on the market in 2006.
Allianz-Tiriac Asigurari, Asirom and Omniasig retained their top three positions, generating revenues worth 317m euros, 172m euros and 149.5m euros last year, namely 40% of the market. The main factor differentiating the three insurers is not Asirom's being the only Romanian-held company through InterAgro, but its 8.9% growth pace, compared with the over 25% pace of the two foreign-held companies.
What was new for 2006 was the entry of BT Asigurari in the top ten. The company that is part of the financial group built around Banca Transilvania posted revenues worth 59.8m euros, while Ardaf, which ranked 8th among Romanian insurers last year, saw its revenues drop by some 10% and experienced various hardships last year.
One of Ardaf's problems last year was its being placed by the Insurance Supervision Commission under special supervision as its liquidity level decreased below the allowed limit.
Generali Asigurari is the only insurer in the top ten to have boasted the fastest growth pace in 2006, of 136.4%, almost four times above the growth pace of the overall insurance market. With gross premiums worth 85.1m euros, the Italian insurer not only managed to enjoy one of the fastest growth rates on the market, but it also climbed two positions in the ranking from 10 in 2005 to 8 in 2006.
Another company that climbed two positions is Astra-Uniqa, which, thanks to revenues worth 86m euros and an 83% growth pace, managed to gain the 7th position.
While Astra and Generali climbed two positions in the ranking, Unita descended two positions, directly onto the ninth position. With revenues worth 73.5m euros in 2006, Unita fell from the s
