UNITA sale will be completed this autumn
 Austrian UNIQA's deal of taking over 100% of the share capital of the Romanian company UNITA from VIENNA Insurance Group, fixed at the end of June, is expected to close in autumn after all necessary regulatory approvals. Because the conditions for a majority takeover of ASTRA-UNIQA were not fulfilled, there are no more legal obligations in this regard so the shareholding in the Romanian insurance company ASTRA remains at 27%, the group representatives said.
UNITA ended the first half of 2008 with business worth RON 270.51 million, representing an increase of 15.13% compared to same period of the previous year (RON 234.95 million), performances that have placed the company on the fifth place on the local market top, and on the fourth place in the non-life segment.
Also, the claims paid in the first six months of the current year have reached RON 186.62 million, while the profits earned have raised to RON 1.4 million, "as a result of measures taken to change the structure of the insurance portfolio, by increasing the share of non-auto insurance products, and in case of the auto products, of the facultative iinsurance", the reprezentatives of UNITA said for XPRIMM Insurance Newsletters.
The main objectives of UNITA for the next period of time are maintaining the market share that has made it possible to reach the insurer's top five, increasing the profitability in all business lines, as well as adjusting the offered products to the new market demands.
Author: Andreea IONETE
on 05.09.2008
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