Asirom's managers could make as much as 5m euros a year

The members of the management board of Asirom insurance company, who will be elected in the next few weeks, will receive gross annual pays of 10,000 euros to 2.5% of gross underwritten premiums, which amounted to 180 million euros in 2007. Therefore, the maximum pay amounts to around 5 million euros, according to a decision made by the company’s shareholders. The insurer is controlled by Austrian group Vienna Insurance, which also owns Omniasig, Omniasig Life, Agras and Unita in Romania. Under the new law that governs trading companies, Asirom shareholders decided to shift to a dual management system. The company’s Board of Directors was dissolved, and a Supervisory Board appointed, which in turn will appoint a management board, after the shareholders’ decisions have been registered with the Trade Registry. “The Supervisory Board of the company, or the appointments and compensations board, as delegated by the Supervisory Board, will set the exact value of the annual fixed gross pays of each board member,” the report published on the Stock Exchange reveals. The members of the Board of Directors that have been recalled are Nicolae Iliuta (chairman), Adriana Guta and Gheorghe Lazar, while those appointed to the Supervisory Board are Martin Simhandl, Peter Franz Hofinger, Nicolae Iliuta, Erich Leiss and Judit Havasi.