Insurance brokers' revenues slipped 15% in euros last year, to116m euros, as the insurance market declined by 13% in euros,according to the data provided by the National Union of InsuranceBrokerage and Consultancy Company (UNSICAR). In late 2009 around500 brokerages operated on the market, with over 90% of them beingsmall firms. "Revenues mainly fell because of the capping of theauto liability insurance fee at 15% of the premium, of the loss ofsome big clients after some industry and real estate investmentswere cancelled and because of some small clients that cancelledtheir insurance because of the crisis," says Bogdan Andriescu,UNSICAR chairman. Brokers last year placed insurance policies worth756m euros (gross underwritten premiums), up 3%, namely 36% of theinsurance market. In 2008, the weight of brokers in the insurancemarket stood at 30%. Calculated in RON, the value of brokeredpremiums climbed by 18% compared with the previous year. InsuranceSupervision Commission chairman Angela Toncescu expects the weightof brokers in the market to go up to 40%, but UNSICAR officialsforecast stagnation.
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