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Insurers posted subscribed gross premiums of 3.64 billion RON (1.09 billion EUR) in the first six months of 2007, up by 29.4% year-on-year following a strong surge on the car insurance and loan insurance segments, according to Dan Constantinescu, a member of the Insurance Supervisory Commission (CSA). For the first half of 2006, insurers operating in Romania had posted an aggregate value of subscribed gross premiums of 2.81 billion RON (794 million EUR).
"Insurance companies reported above-average growth on non-life insurance, particularly for land transportation other than railway, up by 46.39% year-on-year, followed by loan insurance, up by 45.66%," Constantinescu told NewsIn. The value of gross premiums derived from accident insurance, including labor accident insurance and professional illness insurance, doubled compared to the corresponding period of 2006 (+100.77%), whereas health insurance premiums grew 52.31%.
"Of the overall value of gross premiums subscribed in the first half of 2007, approximately 2.96 billion RON (889 million EUR) came from non-life insurance, and 673 million RON (202 million EUR) from life insurance," Constantinescu added. Romanian insurers posted a 30.6% growth in subscribed gross premiums on the non-life insurance, from 2.26 billion RON in H1:2006. As for non-life insurance, business gained 24.15% from the 542.6 million RON in H1:2006.
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