Agras cuts losses

The gross claims settled by the insurance company for the first three quarters increased by nearly 25.8% on the same time in 2004, to more than 13.8 million RON (3.8 million euros). Under the circumstances, Agras posted losses of some 2.42 million RON (670,000 euros). The situation improved from the same time last year when the losses of the company reached 2.82 million RON (692,000 euros). Agras, a company specialising in agricultural insurance, has a territorial network of 45 branches and more than 240 full-time employees. It is to transfer its entire non-agricultural stock portfolio to Unita, which is one of the steps in the company”s restructuring plan, endorsed by shareholders early in October. It will also see its branches closed so as to retain only those that post good results, and its products sold through the network of the other companies controlled by Wiener Staedtische. ZF