Groupama Asigurari, a company created in August through themerger of Asiban and BT Asigurari, in which French Groupama grouphas invested almost half a billion euros, in late September rankedthird on the insurance market, a position that was in the sameperiod of 2008 filled by Asirom, which dropped to sixth. Asirom wasfor years one of the biggest players on the market, but this yearsaw its turnover go down by almost 25%, according to someestimates. According to the insurers' ranking after the first ninemonths of this year drawn up by ZF, Allianz-Tiriac and Omniasig arestill on the top two positions on the market (overall, on generaland life insurance segments). Insurers' turnovers have beenseriously dented by car market decline, on the general insurancesegment, as well as by the soaring number of unemployed people andfalling wages, on the life insurance segment.
"There will be a lot of unemployed people in 2010 and we'll haveanother rough year in life insurance. 2010 will probably resemblethis year, when we expect the volume of new policies to match thelevel of 2006," Cornelia Coman, general manager of ING Asigurari,leader of the life insurance market, told ZF.
The third quarter brought domestic insurers renewed declines ingross underwritten premiums, with only three companies among thetop ten seeing rising turnovers in late September.
Allianz-Tiriac is still on the top position in insurers' ranking(on the overall market), with total underwritten premiums worth971m RON (230m euros), 6% below the level of September 2008.
Close behind the market leader is Omniasig, held by Austria'sVienna Insurance Group, with total underwritten premiums worth 858mRON (203m euros) in late September, down 7%.
Groupama ranks third. According to some estimates, Groupama inlate September had gross underwritten premiums standing at 664m RON(157m euros), 6% lower than the cumulated turnovers of Asiban andBT in the first three quarters of 2008.
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