Asirom grows 10%, invests in leasing

Romania’s largest insurance company Asirom collected 2,350bn ROL (58 million euros) in gross premiums in the first quarter, up 22% in ROL and 10% in euros from the corresponding period of last year. The company also announced it had contributed to the capital of a new company, Asirom Leasing. The gross premiums collected from life insurance contracts went up 30% in ROL in Q1. “We believe part of our ‘cosmopolite’ clients that preferred to use the products with investments abroad supplied by multinational companies have reconsidered their buying options. They are now looking into traditional products with ROL investments,” said Asirom’s general manager Catalin Stroe. Asirom saw revenues surge on the life insurance segment from 15 million euros in gross premiums subscribed to 31 million euros in 2003. Life insurance accounted for some 22% of the company’s revenues that amounted to 144 million euros in 2003. Asirom has recently set up Asirom Leasing along with other individual investors such as Ioan Nicolae, who controls the InterAgro corporation, which includes Asirom. ZF