Asirom loses 7.4 million euros in six months

Asirom, the third leading player on the insurance market, ended the first half with a 7.4 million-euro loss (more than 27.2 million RON), after having posted 0.6 million euros (about 2 million RON) net profit in the corresponding period of last year. Asirom’s officials explain in the report filed with the Stock Exchange that the losses were caused by the failure to attain the revenues budgeted, while expenses were higher than scheduled. “The loss is mainly because of the failure to achieve the total revenues scheduled in the spending and revenue budget approved by the General Meeting of Shareholders in April 2008, while total spending on claim settlements and obligations undertaken by the company through insurance contracts signed with insured individuals and legal entities, as well as the expenses made for acquisition and management arising from the normal operations, exceeded revenues achieved by 5% compared with S&R figures from January through June 30, 2008,” the report reads.