The OMNIASIG profit increased by 18.6% in the first nine months
OMNIASIG Vienna Insurance Group acquired, during the first nine months, a gross profit of over RON 41 million, 18.6% more than at the end of September last year, although business has declined. Thus, the company ended the first three quarters of 2009 with a volume of underwritings of almost RON 858 million, less by 6.6% compared to RON 919 million, registered in the corresponding period of last year.
Meanwhile, the company recorded a significant increase of 42% of paid claims, as they reached the value of RON 689.6 million, amid a more efficient claims settlement process, but also amid the exchange rate fluctuations.
"This large increase of the paid claims is due, on one hand, to the company's efforts to reduce the duration of solving claims, which resulted in a higher volume of claims paid in shorter time and, on the other hand, is due to the impact of the depreciation of the national currency compared to the euro", stated the representatives of the insurer.
Motor insurance segment fell by 2% on the Motor Hull segment, where gross written premiums reached RON 483 million, representing 81.5% of the OMNIASIG portfolio. In the same period, the company posted a 3.3% reduction on the MTPL class, reaching a volume of underwritings of RON 216.3 million.
Both the MTPL insurance and the Motor Hull one registered significant increases in the amount of claims, as follows: 54.89% more in Motor Hull and 47.18% more in MTPL, compared with the same period of 2008.
Also, OMNIASIG's volume of gross written premiums for property insurance fell by 5.3%, to RON 112.6 million.
The company reported significant evolutions on general liability insurance, where the underwritings' volume, of RON 13.11 million, was 25% higher than the one in the corresponding period of 2008, but also on the CARGO classes - plus 20.6%, to RON 7.6 million - and on the air transport insurance - a growth of 5%, to RON 4.3 million.
Present on the Romanian insurance market for 14 years and member of the Austrian group VIENNA Insurance since 2005, OMNIASIG is the second company in the local insurers ranking, by the underwritings' volume, at a difference of only RON 113 million, in revenues, from the market leader, ALLIANZ-TIRIAC.
Author: Andreea IONETE
on 17.11.2009
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