Capitalization of the Romanian insurance market in 2007 - EUR 600 million
The Romanian insurance market capitalization in 2007 came close to
EUR 600 million. The total value of the share capital has reached EUR
592.4 million (RON 1.98 billion), according to the ISC 2007 Anual Report.
It surpassed the value from 2006 by 31.92% (EUR 415.85 million).
The insurance companies which were active on the market in 2007 increased their capital by EUR 166 mil. Regarding foreign investments, they increased by 43.66%, from RON 750 million to RON 1.15 billion. This growth is due to capital increases as well as the three new companies on the market: EFG Eurolife Viata, EFG Eurolife Generale and CREDIT EUROPE.
Foreign investors held 58.10% of the total capital, according to the Annual CSA Report.
"Capital infusions contributed to the consolidation of the companies as well as the market in general. I can't overlook the fact that the capital growths were aimed to improve the solvency indicators, but at the same time, to allow future development of the companies", Angela TONCESCU, President of CSA, mentioned.
Among the 24 companies that increased their capital we can find ARDAF, ASIBAN, ASIROM, ASITRANS, BCR Asigurari, BT Asigurari, CLAL Asigurari, INTERAMERICAN, KD Life, OTP Garancia and OMNIASIG Life.
Author: Andreea IONETE
on 06.10.2008
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