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November 30, 2022
BUSINESS

Insurers’ losses up eight-fold in 2011

The net results of the insurance industry in 2011 point to losses of RON 329.7 M, eight times higher than the level registered at the end of 2010, the Finance Ministry’s data shows, Mediafax informs. In 2010 the insurers’ net losses totaled RON 41.37 M, down from RON 103.21 M in 2009. According to Finance Ministry data, insurers registered total losses of RON 582.3 M last year, while their profits totaled RON 252.6 M. Thus, the highest losses were registered by Omniasig (the company merged with BCR Asigurari, which in turn took the name Omniasig) – RON 181.3 M, followed by Groupama Asigurari (RON 102.2 M), Generali Romania (former ARDAF, which merged with Generali Asigurari) – RON 83.2 M, UNIQA Asigurari (RON 73.1 M) and AXA Life Romania (RON 39.5 M). On the other hand, the most profitable insurer was Astra Asigurari, the market leader, with a positive result of RON 81.01 M, followed by Alico Asigurari de Viata (RON 74.03 M) and Allianz-Tiriac Asigurari (RON 24.5 M), BCR Asigurari de Viata (RON 19.6 M), City Insurance (RON 17.19 M), ING Asigurari de Viata (RON 14.7 M), Asirom (RON 7.2 M), Grawe Romania (RON 3.1 M), Certasig (RON 1.7 M) and Credit Europe Asigurari (RON 1.47 M).

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