Insurer Omniasig sees 318% surge

Insurance company Omniasig in the first nine months of the year logged a 318% surge in underwritten loan insurance policies and warranties as compared to the corresponding period of last year, to about 16 million euros (about 58 million RON).

These insurance policies are bought by banks that, in exchange for the premium paid to insurers, receive the guarantee that, in case the debtor should not pay, they will be compensated by the insurer. Last year, the biggest players on this market were BCR Asigurari, with a share of 28%, and Asiban, with 27%.

Early this month, Omniasig finalised the merger through absorption with Omniasig-AGI and Omniasig-Asirag, two insurance companies it bought last year. In the first nine months, the three companies, which have become one, logged deals worth 101 million euros (365.5 million RON).

In the first three quarters, Omniasig registered almost 50% higher gross underwritten premiums, from the corresponding period of last year, to 80 million euros (289.5 million RON).

One of the most dynamic sectors of the insurer”s business has been the optional car insurance, up 55% in euros, to a level of 27.3 million euros (about 98.8 million RON).

Gross profit Omniasig reported for the first three quarters stands at almost 1.5 million euros (5.3 million RON), 25% higher than in the same period of last year. The volume of indemnities paid by the insurer went up 46% in euros, to a level of 30.5 million euros (110.5 million RON). angela.placinta@zf.ro