The Impact of european integration on the general insurances market in Romania

Abstract

The present article aims to proving that the business concentration is the main tendency witch is to become manifest in the insurance field, determined by the increasing interest of international strategic investors to penetrate or consolidate their position on the Romanian insurance market. The pressure settled by the competitors, determined by free access to the auchthonous market and by the inroading of an increasing number of European companies as well, will generate significant reorganizations, mergers, alliances and acquisition between local operators. Actually, in the near future, the specific industry is going to settle, meaning that only the efficient insurance companies are meant to last through the years, most of them being international companies. The coming of the these international companies will determine a stiff competition and the final result is to be favourable for the client, the one who buys the insurance, improving the quality of services provided. The efforts to develop new insurance products, the interest in diversifying the insurers’ portfolio towards non-auto categories and consolidating the territorial networks as well as some alternative distribution channels, constitute measures in Romanian insurance industry maturation.