Asirom back in the black in H1

Asirom, an insurance company controlled by businessman Ion Niculae, in the first six months of this year derived income worth 2.3m euros (over 8m RON), after having reported losses standing at 10m euros (36m RON) in 2005. The value of gross underwritten premiums in the first half of the year went up by 7.5% in euros, to around 100m euros (357m RON). The company managed a turnaround by implementing an expense reduction plan it drew up together with an international consultancy, in the wake of which expenses dropped by 10%, maintains the general manager of Asirom, Austrian Boris Schneider. In the first half, the company sold auto liability policies worth almost 37m euros (130m RON), around 13% lower in euros than in the same period of 2005. In terms of life insurance, Asirom resumed growth, after it had witnessed a slight decline on this segment in 2005. Thus, in H1 the company sold life insurance policies worth 14.1m euros, up 25% in euros compared with the first six months of 2005.