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THE IMPACT OF THE CRISIS ON THE FINANCIAL PERFORMANCE (RESULTS) OF ROMANIAN INSURANCE COMPANIES

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Author(s): CRISTINA MIHAELA NAGY | BOGDAN COTLEŢ | DUMITRU COTLEŢ | MARINA UHER

Journal: Anale : Seria Ştiinţe Economice. Timişoara
ISSN 1582-2680

Volume: XVIII;
Start page: 385;
Date: 2012;
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Keywords: insurance industry | financial results | losses

ABSTRACT
The evolution of financial results reported by Romanian insurers to the commission for supervision of insurers in the context of the financial and economic crisis has spotlighted the fact that the insurance industry hasn’t been immune to the crisis. A number of 28 insurers have reported losses during the peak of the crisis in Romania, i.e. 2008, their number decreased to 23 insurance companies in 2010, this being due to companies practicing mainly life insurance, because the number of companies which registered profit had increased from 8 companies in 2008 to 13 companies in 2010.
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