Omniasig-held insurer posts losses

Insurer Asirag Pitesti cashed 153.5 billion ROL from underwritten policies in the first half of 2004, accounting for a 44% surge. However, the company logged 3.2bn ROL in losses in the first six months of 2004, compared to profit worth 2.6 billion ROL, recorded in the corresponding period of last year. The company settled claims worth 59.5 billion ROL, up 29.8% from the year-ago period. The company’s total revenues amounted to 173.3 billion ROL in June 2004, up 37.2% as compared to the corresponding period of last year. Insurer Omniasig Bucharest bought 62.39% in Asirag early this year, under a deal worth more than one million dollars. ZF