The revenues of the insurance brokers selling third-party liability auto insurance (RCA) increased by 41.6% in 2021, to RON 792 mln, according to data provided by the financial markets regulator ASF quoted by Profit.ro. The revenues generated by the voluntary car insurance contracts (CASCO) rose by only 11% to RON 350 mln. At the end of September, before the bankruptcy of the leading player City Insurance, the annual growth rate for the year-to-date period January-September for the revenues generated by RCA contracts was reported at only 22.48%. But something happened, the price of the mandatory auto insurance surged amid City Insurance's bankruptcy towards the end of the year, and so have the revenues of the brokers, during the last quarter of 2021. In the meantime, ASF drafted new regulations to cap the prices of third party liability auto insurance (RCA) and also to cap at 5% the fee charged by the insurance distribution companies. The draft government decision on this topic, envisaging capping the RCA prices and the fees charged by the insurance brokers for six months, is currently being reviewed by the competition body, minister of finance Adrian Caciu announced on March 23.
The BCR Romania Manufacturing PMI index has further slipped to 47.2 in November from 47.6 in October, signalling that the downward momentum which began last month has persisted. Not only the output sub-indicator, but also the new orders have deteriorated marginally compared to October and significantly compared to September, when the index neared the 50-point […]
Prime minister Ilie Bolojan will travel to Vienna on December 3-4 for an official visit mainly focused on energy cooperation and strengthening bilateral ties. The visit takes place at the invitation of Austria’s federal chancellor, Christian Stocker, according to the official announcement from...
Nhood, an integrated real estate services and solutions company present in 10 European countries, including Romania, has appointed Mihaela Petruescu as the new Country Director for Property Services Romania & Poland as of October. With nearly 20 years of experience in the real estate sector, Mihaela brings robust expertise in property management and leasing, operational […]
“Catane,” a dark comedy inspired by real events and directed by Ioana Mischie, is set to have its first special screenings in Romania after a successful festival circuit. The film had its world premiere at the IFFI Goa festival in India and was nominated this year at the Hollywood Music in Media Awards for Best […]
Romania is among the European countries where water reserves are decreasing at an alarming rate, according to an analysis carried out by researchers from University College London in collaboration with The Guardian and Watershed Investigations. Scientists analyzed data from the period 2002–2024 provided by satellites that monitor changes in the Earth's...
George Smyth, 18, went missing on a hike near Romania’s famous Bran Castle more than a week ago. On November 23, the British citizen started to suffer from hypothermia and exhaustion and called the emergency services. Trying to locate him, mountain rescue services conducted searches over the next few days but were only able to […]
