The top ten general insurance companies on the Romanian markethave ceded premiums worth 543 million RON (130 million euros) toreinsurers in the first half of the year, accounting for nearly 18%of the overall gross premiums underwritten in the analysedperiod.
However, the share of ceded premiums in the total of grosspremiums underwritten varies significantly from one company toanother, ranging from 3% in the case of Euroins and CarpaticaAsigurări to nearly 45% in Uniqa's case, with companies choosing totake on more risks depending on their portfolio structure.
"Companies that cede a lower share of underwritten premiums forreinsurance take on a bigger risk when claims need to be settled.Insurers need to meet certain parameters, and they can keep alarger share of the premiums if their share capital allows it.Usually, local retention is higher in the case of insurers withexposure on auto insurance," says Cristian Fugaciu, general managerof Marsh insurance broker.
The portfolio of Euroins, for instance, the company with the lowestshare of ceded premiums in the overall premiums underwritten, is85% made up of auto liability insurance (RCA).
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