Business of Austrians at VIG falls 8%

Vienna Insurance (VIG), the largest group on the Romanian insurance market, owner of Omniasig, Asirom, BCR Asigurari, BCR Viata and Omniasig Life, ended the first nine months of this year with an 8% decline in gross premiums underwritten, to 455.9 million euros, according to data published by the group. On the general insurance segment, companies of the group underwrote gross premiums of 396.2 million euros, 15% less than in the same period of last year, whilst on life insurance, VIG reported an over 100% rise in premiums, to 59.7 million euros. “The declines came on the auto insurance segment because car sales collapsed. We have tried to pursue a profitable strategy as far as the car portfolio is concerned, so we parted with clients that generated losses for us, even though premiums fell as a result,” Boris Schneider, general manager of Asirom, told ZF.