News

Safety Broker is the new sponsor of Universitatea Cluj football team, the agreement being part of a long-term partnership signed at the beginning of this week in Cluj-Napoca.

The Romanian insurance brokerage market has increased by 15.5 percents over the first quarter of 2014, cumulating intermediated premiums of 250 million Euros, according to the estimations of INSURANCE Profile. This value represents 54% of the total premiums subscribed on the local market. At the same time, it is for the first time when the brokers sold more than half of the insurances sold in Romania.

The first semester of the current year brought for SAFETY Broker, the leader of the local insurance brokerage market, a two-figure increase, in line with the goals established for this period. “Half-year through, we have a 26% increase, we are in schedule with what we proposed for ourselves”, Viorel VASILE, CEO of SAFETY Broker, specified within the latest edition of XPRIMM Time for Business show, also mentioning that that the mandatory civil liability insurance for motor vehicles (RCA)represents about 70% of the total brokerage.

The insurance market has been in loss for 8 years ,and, this year, it is also faced with a decrease of the confidence level from clients or potential clients. Thus, regaining the consumers’ confidence, but also the health and profitable increase of the industry counted among the topics debated by the specialists in the field within the Romanian Insurers’ Conference, organized by UNSAR.

HUGE TENSIONS IN INSURANCE:

The brokers and insurers, taken by surprise by the new supervisor, Cristian Constantinescu, insurance specialist: It is not the brokers’ fault that very high fees were reached on the civil liability insurance for motor vehicles (RCA); it is the insurers’ fault for having accepted them in their rush for market share.

The level of the fees granted by the insurance companies for the civil liability insurance policies for motor vehicles (RCA) has been on a descending trend lately, which could result, in certain areas of the country, in a drop of the insurance coverage degree, Viorel VASILE, CEO, SAFETY Broker specified within the XPRIMM Time for Business show.

The insurance brokerage companies are faced lately with high pressure on the reduction of the fees collected for the brokerage of the civil liability insurance policies for motor vehicles (RCA), which dropped from an average of 16% at the end of 2015, to 10% at the present date, fact that could result in the exit of some players from the market and a significant decrease of the insurance coverage degree, especially in province, Viorel Vasile, CEO Safety Broker, considers.

A sale mix, the increase of the NON-RCA sales, the aggregation of new profitable partnerships, the development on the markets in Hungary and Bulgaria are only some of the goals of Safety Broker in the conditions of the current uncertainties on the Romanian insurance market.

Safety Broker takes a distance from the competitors Marsh and Transilvania in the top of the Romanian insurance brokers, according to the figures provided by the FSA on the first semester of 2016. Consolidating thus, for the forth time in a row, the position of leader in the top of the insurance brokers de. With a PBI amounting to 240.5 mil. lei (54 mil. Euros) and a market share of approximately 8%, Safety Broker also continues to remain the number 1 retail Broker in Romania.

Author: Anelis Baciu

Over the next six months, individuals will pay a maximum rate for the mandatory civil liability insurance for motor vehicles (RCA) comprised between lei 541 per year and lei 3,087 per year, in reference to the age and the cylinder capacity of the motor vehicle. These rates are valid for the B0 class, i.e. without penalties or bonuses for the behavior in traffic.