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Insurer Omniasig sees gross premiums written rise by one third y/y to lei 1.18bn in 2008Updated: 05-04-2009 |
Omniasig Vienna Insurance Group (VIG), the second largest insurer in Romania, reported gross premiums written (GPWs) of 1.18 billion lei last year, up 33.66 percent on 2007, following an advance on the Casco and fire policies, the company announced.
Omniasig registered a gross profit of 168.59 million lei in 2008.
The largest chunk of 77.65 percent of the GPWs stems from auto insurance.
Casco policies hiked 55.27 percent on 2007 to 635.58 million lei while the mandatory third party liability RCA policies added 18.38 percent to 281.92 million lei in GPWs.
Damages paid on the Casco insurance segment jumped 131 percent and those for the RCA liability insurance rose 81.82 percent year-on-year.
Property insurance brought GPWs 56.27 percent higher last year than in 2007, amounting to 161.4 million lei, but damages on the segment soared 106.43 percent in the similar period.
Omniasig entered the Romanian market in 1993 and became a member of VIG in 2005. It now controls 17.19 percent of the general insurance market, while the group that integrates it holds leadership on the market.
Vienna Insurance Group is one of the biggest of its kind in Central and Eastern Europe. VIG controls in Romania Omniasig, Omniasig Asigurari de Viata and Asirom.
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