Romanian-owned companies struggle to compete with EU peers

In the run-up to EU membership on January 1, 2007, the number of foreign insurers participating in the market increased and while it raised standards of professionalism and supervision, the ex-state insurer Asirom’s market share has fallen from 100% in 1991 to 8% in 2005 and two other Romanian firms have run into capital problems

In September 2006 there were 39 licensed insurance companies in Romania, of which 20 were non-life, seven life and 12 composite.