INSURANCES INDUSTRY BETWEEN REALITY AND NEW PERSPECTIVES

The worsening of the economic context, in the first half of 2010, has led to the diminishment of subscribed gross premiums in the case of most of the social insurances' classes. Companies in the insurance industry have lately focused their business on those classes of insurance able to ensure their income, respectively CASCO (hull land transport vehicles insurance) insurance, RCA (motor vehicle liability insurance) and fire and natural disasters insurance. Thus, many companies have found new solutions and created new businesses oriented on two components: production and investment. In order to avoid risks, some companies have chosen to invest in governmental and non-governmental bonds, in state securities and in treasury bills, increasing at the same time the number of their clients. By offering incentives to clients, the companies that have opted for life insurance and health insurance enrolled on an upward trend, both because of the market's impact and the amendment of some provisions of the Insurance Supervisory Commission's Orders. The evolution of insurance market is dependent on the trend the Romanian economy will enter, an upward trend being recorded in 2011 in the case of property and RCA type insurances. Receiving the EU membership, the entry of international financial groups onto the market through acquisitions, and changing the regulations have had an impact on how the reserves are made in the insurance industry. [PUBLICATION ABSTRACT]