Romania's BCR Asigurari de Viata increases business by 60% in Q1, to lei 35.2m

BCR Asigurari de Viata, owned by Austria's Vienna Insurance Group, posted gross premiums written of 35.16 million lei after the first three months of the year, 60 percent year-on-year hike, after the turnover advanced on all segments, announced the company today.

The insurer now controls 9.15 percent of the Romanian life insurance market.

VIG took over the majority stakes in BCR Asigurari de Viata and BCR Asigurari from Romania's largest lender by assets Banca Comerciala Romana (BCR), the subsidiary of Erste Bank.

The Austrian company also owns the Romanian insurers Omniasig, Omniasig Asigurari de Viata and Asirom.

In what the life insurance market is concerned, gross premiums written dropped during the first quarter by 5.91 percent versus the same period last year, to 392.31 million lei, according to the data published by the market watchdog (CSA).

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