Astra takeover puts Uniqa among leading players

Austrian Uniqa Group is waiting for the approval of the Insurance Supervision Commission to complete the takeover of Astra Asigurari, where it holds 27%. “Uniqa secured the approval of the Competition Council and once it has received the approval of the Insurance Supervision Commission, the deal will be over,” stated Radu Mustatea, general manager of Astra Asigurari. The deal will enable Uniqa to cover 17.5% of the Romanian insurance market. The main shareholders of Astra Asigurari are Nova Trade group, 73%, and Uniqa, which owns 27%. As a result of the takeover, Uniqa will become the second leading insurer in Romania, leaving Allianz and Groupama behind, which account for 17.3% and 12.9% of the market. The current market leader is Vienna Insurance Group, whose share stands at about 30.4%.