VIG increases the capital of BCR Asigurari
Shareholders of the insurance companies in Romania are operating new capital infusions, that companies need in order to face the losses registered in 2009 - a year marked by the financial crisis. Thus, VIENNA Insurance Group has decided to increase the share capital of BCR Asigurari with RON 57.4 million the most.
After this operation, the company's capitalization will increase from RON 73.7 million, as it is currently, to RON 131.07 million the most, following a decision of the shareholders from December 29, 2009, recently published in the Official Gazette.
The capital increase will be achieved by issuing more than 5.74 million new shares with a nominal value of RON 10, which will be offered for underwriting to the existing shareholders, proportionally to each one's stake.
VIG is represented in Romania through four companies - ASIROM, BCR Asigurari, BCR Asigurari de Viata and OMNIASIG -, OMNIASIG Life, until recently located in the same portfolio, having been sold to the the French giant AXA, transaction that will be completed in the first half of the year in course.
Companies in Romania members of VIG have registered, in the first three quarters of 2009, a decrease of 8% of the underwritings, in European currency, compared to Q3/2008, to a little under EUR 456 million, evolution saved by the results on the life insurance class.
Author: Andreea IONETE
on 26.01.2010
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