STATISTICAL ANALYSIS OF ROMANIAN INSURANCE MARKET. A GROSS WRITTEN PREMIUMS PERSPECTIVE

Adriana AnaMaria Alexandru(davidescu) (), Vasile Alecsandru Strat () and Rodica Manuela Gogonea ()
Additional contact information
Adriana AnaMaria Alexandru(davidescu): Bucharest Academy of Economic Studies, Department of Statistics and Econometrics
Vasile Alecsandru Strat: Bucharest Academy of Economic Studies, Department of Statistics and Econometrics
Rodica Manuela Gogonea: Bucharest Academy of Economic Studies, Department of Statistics and Econometrics

Journal of Social and Economic Statistics, 2013, vol. 2, issue 1, 70-81

Abstract: The paper aims to analyze the Romanian insurance market in 2011 from the perspective of gross written premiums on non-life insurance classes, using principal component analysis technique (PCA) and cluster analysis in order to classify the 30 insurance companies by the most important components obtained by PCA.The empirical results showed that aircraft liability insurance, accident and sickness insurance, liability insurance for ships, insurance of legal expenses and the general liability insurance and surety ship insurance explain best the evolution of the insurance market. Grouping companies after the first two principal components, aircraft liability insurance, accident and sickness insurance, which recovers about 53% of the total variance of the original variables, can highlight three classes of companies: Astra, Allianz-Tiriac and Omniasig. The cluster analysis indicates the existence of four classes of companies: City Insurance, Astra, Groupama Insurances and the rest

Keywords: insurance market; gross written premiums; principal component analysis; cluster analysis (search for similar items in EconPapers)
JEL-codes: C38 C81 C87 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://jses.ase.ro/downloads/Vol2NO1/215davidescu.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aes:jsesro:v:2:y:2013:i:1:p:70-81

Access Statistics for this article

Journal of Social and Economic Statistics is currently edited by Zizi Goschin

More articles in Journal of Social and Economic Statistics from Bucharest University of Economic Studies Contact information at EDIRC.
Bibliographic data for series maintained by Bogdan-Vasile Ileanu ().