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Romanian Insurance Market Facing Globalization Process

Author

Listed:
  • Dumitru G. Badea

    (Academy of Economic Studies, Bucharest)

  • Laura Elly Novac

    (Academy of Economic Studies, Bucharest)

Abstract

The Romanian insurance market has passed through a permanent process of growth which ended up in 2004 to exceed the threshold of 1 billion Euros, in the frame of a small awareness and confidence of the population towards insurance, even now after 15 years. The globalization process of the financial markets affected also the Romanian market even before Romania became member of the European Union. The globalization brought about benefits (especially under the form of increase in the quality of the services provided to clients) but also disadvantages for local companies (significant costs in logistics and training in order to cope with the international groups).

Suggested Citation

  • Dumitru G. Badea & Laura Elly Novac, 2008. "Romanian Insurance Market Facing Globalization Process," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 9(9(526)), pages 61-68, September.
  • Handle: RePEc:agr:journl:v:9(526):y:2008:i:9(526):p:61-68
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    Citations

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    Cited by:

    1. Fekete Szilveszter & Sucala Lucia & Radulescu Gentiana & Oprean Delia, 2010. "Theoretical And Practical Approach Regarding Density And Penetration Insurance On Accident & Health Premiums," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 351-356, July.
    2. Bente Corneliu Cristian, 2010. "Current Coordinates Of The Insurance Market In Romania," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 504-508, December.

    More about this item

    Keywords

    globalization; mergers; solvency; capitalization.;

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