ASTRA-UNIQA wants EUR 1 million profit in 2008 and estimates a 20% growth for MTPL prices in 2009
 Insurer ASTRA-UNIQA, member of UNIQA Group and the ninth insurer in Romania in 2007 estimates 52% business growth for 2008 up to EUR 170 million, as compared with the previous year. "Also, the paid claims for 2008 will probably climb to EUR 100 million, considering the growing trend of the claims ratio, which increased by 70.6% after the first eight months of the year", Radu MUSTATEA, President of the Executive Board at ASTRA UNIQA.
However, the company aims to obtain a EUR 1 million profit in 2008.
Also, ASTRA-UNIQA's leader estimates a 20% growth of the MTPL insurance prices in Romania in 2009, given the claims rate evolution and the fact that premiums are still too little to sustain the results posted by the insurers.
The company ended the first eight months of 2008 with GWP of RON 405.56 million, growing almost 60% on an annual basis, out of which 98.9%, namely RON 401.17 million was reported for non life insurance. In the same period, claims paid by the company rose by 70% to RON 178.4 million according to results announced yesterday by ASTRA-UNIQA, most of them being recorded for non life segment.
CASCO insurance class increased by 146.9% up to RON 204.67 million, which means over half of total underwritings, while gross written premiums for MTPL class totaled RON 113 million.
Significant developments have been achieved for property insurance where gross written premiums reached RON 33.75 million, up 163% from the first eight months of 2007, and aviation hull, growing 56.5% up to RON 14.52 million lei, against winning some major aviation successful accounts.
Author: Andreea IONETE
on 09.10.2008
Comment this article
0 comments
|
