Asitrans: 20m-euro premiums in nine months

Asitrans Asigurari (Asitrans Insurance) posted gross underwritten premiums worth 66.6 million RON (slightly above 20 million euros) in the first nine months of the year, up 34% against the same period last year. However, the insurer saw a rapid increase in gross claims settled (89%), while the total value climbed to 27 million RON (8.1 million euros). Representatives of the company say this increase was prompted by the rapid settlement of payment commitments stipulated in the claim settlement files. Under the circumstances, Asitrans operated on the brink of profitability, and generated an income worth 110,000 RON (33,000 euros). Asitrans sold 36% of its premiums through brokers. The company doubled its share capital, which reached 24.2 million RON in September. Asitrans was recently taken over by the Bulgarian group Eurohold, and will change its name to EuroIns, a decision that will be discussed at a general meeting of shareholders, which is scheduled to take place at the end of this month. EuroIns is the name of the insurance company that is part of the Bulgarian group. ZFe Romanian courier market, has posted turnover worth around 19.6 million euros in the first three quarters of this year, up approximately 50% on last year. “Over one million euros were derived from international courier services, while internal courier services brought 18.6 million euros. Other factors that contributed to this performance were economic growth, a rise in commercial exchanges, as well as partnerships closed with foreign providers of courier services,” said company representatives. Cargus launched international courier services in 2005, in a joint venture with GeoPost Yurtici Kargo, a Turkish-based company controlled by the French post office. Business posted nine months into the year almost equals turnover registered for the whole of last year (20 million euros), according to company representatives. By yearend, Cargus intends to reach business worth around 29 million euros, which means the company should register sales worth nine million euros in the last three months of the year.