NBS: In the first half of 2022, the profit of insurers before tax increased by 57.5% compared to the previous year and amounted to 161.2 million lei.
According to the National Bureau of Statistics, in January-June 2022, the total income of companies amounted to 1 billion 776.6 million lei, which is 40.5% more than in the same period last year. Over 92.5% of the income of companies was provided by insurance activities - 1 billion 644.4 million lei, which is 42.5% more than in January-June 2021. At the same time, the total expenses of companies amounted to 1 billion 615.4 million lei, which is 39% more than in the first half of 2021. About 83% of the expenses of companies are related to insurance activities - 1 billion 341.4 million lei (+44.1%). According to the NBS, for 6 months in 2022, gross premiums accrued for all types of insurance amounted to 1 billion 182.1 million lei, which is 34.6% more than in the same period last year. During this period, the share of general insurance increased from 94.8% to 96%, while the share of life insurance decreased from 5.2% to 4%. In particular, general insurance premiums in January-June 2022 amounted to 1 billion 134.6 million lei, which is 36.3% more than in the same period last year, while the amount of life insurance premiums decreased by 3.2 % - to 47.6 million lei. Approximately 43.6% of the total premiums fell on compulsory motor third party liability insurance - 515.2 million lei (+32.4% compared to the first half of 2021) and 17.9% - on insurance of land transport (CASCO) – 211.2 million lei (+12.4%). Herewith, the share of CASCO decreased by 3.5 percentage points over the year, the share of compulsory motor third party liability insurance decreased by 0.7 percentage points. Meanwhile, the total amount of payments of insurance indemnities and compensations in the first half of 2022 amounted to 420.4 million lei and increased by 34.6% compared to the same period in 2021. About 94.2% of indemnities paid during this period accounted for general insurance - 396 million lei, which is 34.7% more than in the first half of 2021. The amount of life insurance indemnities increased by 33% and amounted to 24.4 million lei, while the share of these payments decreased from 5.9 % to 5.8%. The majority of indemnities were paid under compulsory motor third party liability insurance (44% of the total amount of indemnities) and CASCO (30.4%). In particular, compulsory motor third party liability insurance reimbursements amounted to 184.8 million lei in monetary terms, an increase of 21.6% compared to January-June 2021, while CASCO reimbursements increased by 18.9% to 127.8 million lei. For 6 months of the year the amount of premiums and indemnities for health insurance increased compared to the same period last year (by 14.6% and, respectively, 34.5%), however, the share of this type of insurance decreased in the structure of premiums - from 5.6% to 4.8%, and its share in the structure of compensation has not changed - 5.4%. In the segment of property insurance against fire and other natural disasters, the amount of premiums increased by 59.3% and indemnities - by 2.5 times, while the share in the structure of premiums increased from 13.3% to 15.8%, and in the structure of indemnities - from 2.8% to 5.3%. It is worth noting that the statistics of the NBS cover all companies that indicate insurance as one of their activities. The data of the NBS differ from the data of the NCFM on activities in the field of insurance, which include statistics on licensed participants in the insurance market. // 25.08.2022 — InfoMarket.
