Motor Hull insurance led to an increase of over 200% of the underwritings of CERTASIG
CERTASIG underwrote, in the first three quarters of this year, gross premiums that amounted to EUR 6.28 million, which, compared with January-September 2008, represents an increase in absolute value of EUR 4.25 million (editor's note: in Q3/2008, the value of CERTASIG's underwritings amounted to EUR 2.03 million).
Practically, the achieved result is a spectacular growth in Euro of about 210%, despite the continuous depreciation of the national currency in relation to the European one.
The results submitted by the company to the Specialty Review INSURANCE Profile show that this business growth is based on the voluntary Motor Hull insurance segment, as CERTASIG registered on this line an increase of 204% (in the first nine months of 2009, voluntary Motor Hull insurance represented 49% - over EUR 3 million - of the underwritings of the company).
Also, important contributions to the CERTASIG business were that of the policies of marine transport insurance and, respectively, that of the policies of air transport insurance - summed up, they represented 32% of the total sales.
Other insurance classes important for the total of underwritings of CERTASIG are: property insurance - representing over 7% of the total business, general civil liability insurance, with about 4%, which generated underwritings of EUR 260 thousand, accident and illness insurance, goods in transit insurance, travel insurance, each type of policy generating about 1 percentage point of the total sales of the company.
Meanwhile, the total value of approved and paid claims of CERTASIG, in Q3/2009, amounted to EUR 1.7 million, of which EUR 1.3 million - related to Motor Hull policies.
The company CERTASIG was founded in 2003, following the merger of the former company FORTUNA SA Baia Mare and the former Asigurarea Romano-Canadiana AROCA S.A. Bucuresti. Currently, the company's shareholders are: CERTASIG Holding S.A. (100% owned by ROYALTON Capital Investors II) - with a share of 98% - and individual and corporate shareholders - 2%.
Preliminary results registered by the national insurance market during the first three quarters of this year can be read only in Number 4/2009 of the Specialty Review INSURANCE Profile (www.insuranceprofile.ro), which will appear at the end of November.
Author: Vlad BOLDIJAR
on 20.11.2009
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