Most Romanians In Urban Areas Not Interested In Private Insurance - Report

The seventh edition of the Financiar annual market report, launched on July 6 in the conference "Mediafax Talks about Banking," contains the results of research conducted by 360insights between April and May 2010, on a sample of 800 people who live in urban areas and are between 16 and 64 years old.

The study shows that 17% of Romanians have life insurance, 14% have private health insurance and 21% have home insurance. In each of these three categories, the insurance holders generally have high incomes and university degrees.

On the other hand, the lack of information on the benefits of insurance, decreasing income and uncertainty at the workplace are factors that reduce interest in insurance contracts. Only 23% of the respondents without life insurance said they plan to buy such a policy in the next five years or later. A mere 21% of Romanians without private health insurance said they would buy it at some point, while getting home insurance is a plan for only 28% of those without it; half of this group said insuring their home is a priority for the next year, the study found.

Aside from the results of research carried out for MEDIAFAX, the report also includes analyses on the sector's evolution in the last year, a timeline of the major events on the financial market and an index of companies in the field.

The report is made up of five chapters: Banks, Private insurance and pensions, Leasing, Capital market and Consultancy.

"Financiar 2010 examines the banking sector's quick transition from cheerful expansion to cost control, insurers' falling underwriting revenue for the first time since 1990, the crisis' effects on the leasing industry, the adjustments made to stabilize the capital market, as well as law houses turning their focus to legal services required in a recession," said the report's editor-in-chief, Adrian Dumitrache.

The report, published by MEDIAFAX, will be distributed as of July 6, free of charge, to companies and institutions working on the financial-banking market, insurance and consultancy firms, leasing companies and mutual, pension and investment funds.

Mediafax is the largest supplier of general and business information in Romania. The agency was founded in 1991 and it is part of Romania's largest media group, MediaPro.

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