Archive » November 2008 » 05 November 2008 The english news from 05 November 2008
Generali: Crisis will encourage insurers to seek profit
The losses insurers are posting will become unsustainable as shareholders will no longer be able to pump tens of million euros to cover them and small firms are likely to experience the biggest problems, states Generali's new CEO, Marie Kovarova…
Foreign banks interested in Romania
Some foreign banks are likely to be interested in acquisitions in Romania next year, which could lead to local banking market consolidation, according to the President of Raiffeisen Bank Romania, Steven van Groningen. "It is very difficult to make forecasts, given that banks currently need to solve their domestic problems," he added…
Vienna Insurance Group completes sale of Unita to Austrian insurer Uniqa
Vienna Insurance Group (VIG), Austria's biggest insurance company, finalized the sale of the majority stock in the insurer Unita VIG to the Austrian group Uniqa, after receiving the green light from the insurance competition watchdog, the company announced…
Romanian Cos Delay Paying Taxes On Liquidity Shortage - Fin Min
Companies in Romania have liquidity problems, as banks cut their credit lines, and postponed paying their taxes, causing losses of 1.5 billion lei (EUR1=RON3.6838) to the state budget, Economy and Finance Minister Varujan Vosganian said Tuesday…
Austria's Uniqa could sell the 27% stake in Astra Asigurari starting with next year, manager says
The Austrian group Uniqa said it does not rule out the possibility to sell its participation of 27 percent in the share capital of Romanian insurer Astra Asigurari, but not this year, board member of Uniqa Group Austria, Andreas Brandstetter, announced…