ASTRA Asigurari wants to double profit and to surpass the EUR 1 billion threshold in 2010
 The company ASTRA Asigurari has set as target for this year to obtain a gross written premiums income of RON 1.16 billion, which represents a 40% increase compared to 2009, and a profit of RON 11.78 million, almost double compared to the profit recorded in the previous year.
ASTRA Asigurari made in 2009 total underwritings amounting to RON 809.5 million, up 25% compared to 2008, and a net profit of RON 6.20 million, up 68% compared to the previous year, according to final results published on the 14th of April by the company.
Thus, gross premiums underwriten in 2009 by ASTRA Asigurari on the non-life class reached RON 799.5 million, while claims paid by the insurer increased by 17%, to a little less than RON 328.2 million, compared to RON 280.5 million in 2008.
The company's business on the property segment has tripled in 2009, up to RON 135.5 million, thanks to the campaign for household insurance sales via SMS, pushing ASTRA Asigurari on the first place in the insurers top on this business line.
On the motor insurance segment, the 85% growth on the MTPL segment, up to RON 286.3 million, brought the company back to the market leader position, while on the Motor Hull segment, ASTRA Asigurari registered an underwritings volume of RON 294.2 million.
Marine insurance business generated gross written premiums of RON 11.74 million, by 13% more than in 2008, while the aviation insurance class (Motor Hull and liability) rose by 50%, rising from RON 22.9 million in 2008 to RON 34.3 million last year.
The market leader position in marine and aviation insurance, owned by ASTRA Asigurari, meant in 2009 the renewal of the accounts or gaining new ones.
Among the most important clients of ASTRA on the aviation insurance market, there are: TAROM - national airline company, BLUE AIR - the largest private airline, ROMAVIA - the airline of the Ministry of Defense, with special flights for the Presidency and for the Romanian Government, the International Airport "Henri COANDA" Otopeni, the International Airport "Aurel VLAICU" Baneasa, the International Airport "Mihail KOGALNICEANU" Constanta, the International Airport Cluj Napoca, the International Airport "George ENESCU" Bacau and Regional Air Services.
The market activity also had a dynamic evolution, with underwritings totaling RON 9.95 million in 2009, compared to RON 7.28 million in 2008, the 37% increase being the direct result of launching new life and health products and of the consolidation of the profile department.
Besides increasing the profit margin and achieving RON 1 billion from underwritings, the objectives of the company aimed to offer fast and competitive services, effective insurance products, at a fair price for the customer.
In 2009, only two companies have exceeded the threshold of RON 1 billion from underwritings: ALLIANZ-TIRIAC, with business of RON 1.29 billion, and OMNIASIG, with RON 1.11 billion, followed by GROUPAMA, with RON 850 million, and by ASTRA Asigurari, on the fourth place.
At the Insurance Market Awards Gala, granted by PRIMM - Insurance & Pensions Magazine, on March 31, 2010, ASTRA Asigurari was awarded with the "Insurer of the Year'' award on the general insurance segment and with the Special Award for PROFESSIONALISM and PERFORMANCE for the successful implementation of the system for electronic issuing of the insurance policies.
Author: Andreea IONETE
on 15.04.2010
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