Business of EUR 615 million in 2009 for VIG
The companies in Romania members of VIENNA Insurance Group (VIG) have ended 2009 with businesses of EUR 614.8 million, slightly above the level recorded in 2008 (when the VIG portfolio lacked BCR Asigurari and BCR Asigurari de Viata, but the UNITA businesses were taken into account), when their value rose to EUR 613 million. In local currency, VIG's underwritings in Romania increased by 15.5%, amid a spectacular development on the life segment, according to the data published by the Austrian group.
Evolution of the non-life segment was a weak one, due to the influence of the leu depreciation and of the portfolio restructuring, but a positive one, of 6% in local currency, the group's business rising up to EUR 528.4 million. However, this was compensated by a considerable increase of the life underwritings, following the consolidation of BCR Asigurari de Viata, in 2009.
Thus, on the life insurance segment, the volume of underwritings has increased over two times, from EUR 39 million to EUR 86.4 million, an evolution of almost 156%.
VIG is present in Romania through four companies - ASIROM, BCR Asigurari, BCR Asigurari de Viata and OMNIASIG -, OMNIASIG Life, until recently located in the same portfolio, having been sold to the French giant AXA, transaction that will be completed in the first half of the year in course.
Author: Andreea IONETE
on 27.01.2010
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