Abstract
Referring to the insurance market at a global level, what must be mentioned is that recovering from the economic crisis favored the consolidation of criteria for insurance products, especially by raising awareness of the risks that a company is exposed to, especially in international transactions. The economic re-launch, together with the rise in commercial exchanges and in liquidations on the financial market have created a favorable framework at an international level for the development of insurance markets. The most representative insurance and reinsurance markets are concentrated within the world’s major commercial and financial centers, where the majority of these types of transactions take place, reason for which these markets are also the most complex (London, EU, USA, Japan). These markets influence to a great extent the rules and practices of markets. A characteristic of these international markets is the fact that they bring together large volumes of insurance from across the world. The present study proposes to present a few opinions with respect to the impact of globalization on the insurance industry and on the directions for development in the context of the harmonization of national legislation to the European Directive. In this sense, we have exemplified the insurance market starting off from the distribution of insurers on the world market starting from the European one so that in the end we may present the degree of concentration of the insurance market in Romania.
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