Unita wants to lead by 2007

Unita increased its share capital by 195.8bn ROL (4.8 million euros) at the end of June, from 432.7bn ROL to 628.5bn ROL. The capital increase was in form of a contribution in cash made by the majority shareholder, Austria’s Wiener Staedtische. Unita operated two capital increases in 2003, which were worth 7 million euros together. The first operation was conducted in May and amounted to 6 million euros. “Shareholders intended this operation to turn Unita into the company with the highest share capital in the insurance industry. The company is going through a growth process, which will hold over the next few years. The management’s goal is to position Unita as market leader by 2007. At present we are not in the position we should be in the insurance industry; the capital inflow will support the increase in the company’s market share,” stated chief executive Dan Odobescu. ZF