OMNIASIG decreases by almost 6% in 2009
The insurance company OMNIASIG VIENNA Insurance Group, the second company on the local profile market, reported underwritings amounting to RON 1.11 billion for 2009, down by 5.68% compared to 2008. Also, the total value of claims paid by OMNIASIG in 2009 increased by 21.71% compared to the previous year, to RON 904.96 million. According to company officials, the decrease of the underwritings is due to the effects of the crisis on some important segments of the national economy, such as the auto segment, leasing, banking and real estate, according to the press release issued by the insurer.
The company's gross profit in the reference period amounted to RON 52.73 million, due mostly to a policy of efficiency and cost control and of company activity optimization. Remember that in 2008 the company reported a record profit of RON 168.59 million (equivalent to EUR 45.78 million), following the sale of UNITA to UNIQA Group, a deal estimated at EUR 190 million.
Motor insurance holds the largest share in the company's portfolio, respectively 81.4%, of which Motor Hull insurance totaled RON 635.17 million and the MTPL segment fell by 3.51%, to RON 272.02 million. Both MTPL and Motor Hull insurance segments have registered significant growths of the amount of paid claims, as follows: of 27.45% on Motor Hull and of 26.32% on MTPL, compared with the previous year.
Also, general liability insurance rose by 19.23% compared to the previous year, to RON 17.29 million. Increasing evolutions are also noted on other classes, such as rail transport insurance, up by 28.81% (RON 2.78 million), air transport insurance - 5.69% (RON 4.79 million) or goods in transit insurance - 12.44% (RON 8.83 million).
The strategy adopted by OMNIASIG in 2010 focuses on the promotion, development and growth of non-motor insurance lines, as well as on more efficient management of the motor insurance segment, both in terms of setting the tarrifs and of more rapid solving of claims.
OMNIASIG has been active on the Romanian insurance market since 1995. Since 2005, the company became a member of VIENNA Insurance Group (VIG), and currently ranks second on the general insurance market in our country, with a market share of 15.70%.
VIG is present in Romania through four companies - ASIROM, BCR Asigurari, BCR Asigurari de Viata and OMNIASIG. They ended 2009 with business of EUR 614.8 million, slightly above the level recorded in 2008 (when from the VIG portfolio were missing BCR Asigurari and BCR Asigurari de Viata, but there was taken into account the business of UNITA), when their value rose to EUR 613 million, according to data published by the Austrian group.
Author: Oleg DORONCEANU
on 26.03.2010
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