Insurers increase capital

The shareholders of insurance companies Omniasig Asigurari de Viata and Certasig have decided to up the share capital three weeks before the expiry of the deadline set by the Insurance Supervision Commission (CSA). The increases will be carried out to comply with the CSA norms on the minimum share capital of insurers. Certasig”s capital will be increased by 7.61 million RON (some 2.1 million euros) to 3.61 million euros (13 million RON), by contribution in cash from shareholders. The controlling interests in this company have recently been taken over by an individual investor from Spain, Abril Canadell Montserrat. Prior to this deal, the principal shareholder was Eugen Voicu (45.81%) along with Compania de Investitii Fortuna (10.14%), Romanoexport (11.63%), Mihai Pasculescu (5.81%) and other shareholders (28.59%). Another company increasing its capital is Omniasig Asigurari de Viata. Its capital will be increased by shareholders by 330,000 euros, bringing it to a total of nearly 2.25 million euros. ZF