Astra reports growth in premiums

Astra Asigurari has posted 47.8 million euros (1,941bn ROL) in gross premiums underwritten for 2004 on the general insurance segment, up more than 43% from 2003. The largest share in Astra’s general insurance portfolio (51.7%) was for auto liability insurance contracts (civil auto liability and Green Card insurance), which increased by 32% on the previous year to 24.7 million euros (1,003.3bn ROL). The company saw over 35% in growth on the maritime insurance segment, with revenues from gross premiums underwritten amounting to 3.1 million euros. Astra is a market leader in maritime insurance. According to the company’s chief financial officer, Dacian Vinereanu, they sell maritime insurance (ship and P&I, protection and indemnity insurance) in Romania and in Turkey and cover the entire Black Sea. It is currently moving into the Mediterranean Sea. Gross premiums on the life insurance segment amounted to 490,328 euros (19.8bn ROL), 20.4% higher than in 2003. Settled life insurance claims, however, were 40 times higher than in 2003, amounting to 78,382 euros (3.17bn ROL). “We had only one major claim in 2004 of 3bn ROL on a life insurance contract concluded for a loan,” Dacian Vinereanu explained. ZF