BCR Asigurari turns to profit in 2010

BCR Asigurari ended 2010 with a pretax profit of RON 14.43 M, after losses of RON 55.54 M in 2009, reads a press release issued yesterday. “BCR Asigurari last year implemented a strategy of streamlining back office and claims solving activities, as well as of optimising its administrative and acquisitions costs control process,” reads the release. Last year, the insurer underwrote premiums worth over RON 522 M, 9 pc under the result of 2009, strengthening its fifth position in the top of insurance companies with general insurance business present in the local market. Compared with last year, the largest increase in the company’s portfolio was 40 pc for general liability insurance, followed by compulsory car insurances, with an increase of 25 pc and by property insurances, with 6 pc. Third-party liability car insurances (CASCO) followed the general negative trend of the market and of leasing activities, against the background of the process of increasing the efficiency of the CASCO portfolio and of implementing the bonus/malus system. The total value of claims paid last year fell by 7.9 pc, to RON 357 M, according to the IFRS financial reports of the VIG group.

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