ASF publishes new MTPL reference rates - statistical benchmark, not market price

Bucharest, 12 November 2025 - The Financial Supervisory Authority (ASF) has published its half-yearly report on MTPL reference rates, compiled by an independent company (Asocierea KPMG Advisory SRL și KPMG Audit SRL). Reference rates are not market prices, are indicative in nature, and are not set by ASF; they are a statistical tool designed to provide transparency and help consumers and insurers understand the evolution of actual costs in the market. The moderate developments noted in the report show that the MTPL market is going through a period of stability, in which adjustments are explainable and manageable.

How the reference rate is calculated

In order to establish the reference tariffs, the company analyzed aggregate statistical data from the last five years (1 January 2020 – 31 December 2024). Essentially, the methodology used considers two aspects:

• How often accidents occur (frequency of claims) and
• How high their costs are (severity of claims).

Apoi, pentru a reflecta realitatea economică, se iau în calcul și: This data is processed using a mathematical model (Generalized Linear Model – GLM), which takes into account factors such as the age of the insured/user, vehicle type, engine power, and geographical area. Then, to reflect economic reality, the following are also taken into account:

• claims inflation – i.e., among other things, the fact that repairs and car parts cost more every year,
• Insurers' administrative and sales expenses,
• Profit margin.

The result is not a mandatory rate or a market rate, but a benchmark for each individual risk category.

Developments since the previous report

For individuals, the MTPL reference rate increased by an average of 5.4% for passenger cars and 5.2% for goods transport vehicles, compared to the reference rate published in December 2024.

For legal entities, the increases were moderate: +3.5% for passenger cars and +3.2% for goods transport vehicles.

The analysis by risk category also highlights decreases in the reference rate. For example, for a driver in Bucharest-Ilfov, aged between 51 and 60 and with a passenger car between 151–200 kW, the rate decreased by 3.5%. Reductions were also recorded for drivers under 30 years of age with cars over 200 kW. In the case of passenger vehicles, the increase was only 0.4%, practically stagnant.

Why is it important to publish these rates?

• For consumers: the reference rate is determined based on statistical data from the MTPL insurance market, is indicative, and helps them compare offers on the market and understand price differences.
• For the market: the report helps identify trends—such as rising claims costs—and take early action to maintain long-term stability.
• For policyholder protection: the reference rate is used in the "high-risk policyholder" mechanism managed by BAAR.

Reference rates, which are not market rates, are calculated by an independent company on a statistical and actuarial basis. The price of MTPL policies is set exclusively by insurers, based on their own calculation methodologies, claims experience, and commercial policies.

You can find the MTPL Reference Rates Report here. (in Romanian)