Insurers' profitability could improve this year because theshareholders can no longer allocate resources to fight theircompetitors on a price basis, which has happened over the last fewyears and generated major losses to the insurance market, saysMarie Kovarova, general manager of Generali Asigurari, one of theleading companies on the insurance market. "Perhaps newcomers willstill do that, in their bid to gain market share, but older playerscan no longer afford to enter the price war. 2010 will be a betteryear in terms of profitability, we noticed that RCA (auto liabilityinsurance) prices were more reasonable," says Kovarova, who tookover at the helm of Generali Asigurari in September 2008. TheRomanian insurance market has seen net losses for a few years, withthe main reason for this being the big claims recorded in the autoinsurance sector, according to the companies, as well as the factthat some players are seeking to gain market share by charging lowprices.
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