Astra Asigurari insurer: Turnover will rise 10-15% next year

Astra, one of the top ten insurance companies, forecasts a 10-15% increase in gross underwritten premiums for 2009, significantly lower than the 80% advance recorded this year, said Radu Mustatea, the company’s general manager. “We have not yet finalised next year’s budget, but we will probably see a 10-15% increase, in the context of the financial crisis. We don’t know exactly what will happen at present, we will wait and see how the market progresses. The crisis has not affected us yet. On the comprehensive insurance segment, the effects of the decline in car sales are yet to be felt, policies are being signed for orders placed this summer, with cars delivered now. We will surely see the first effects in the coming months,” Mustatea said. In the first nine months of this year, Astra’s turnover climbed 79%, to 495.5 million RON (136 million euros), especially due to the rise recorded on the auto insurance segment and on the property insurance segment. On the life insurance market, turnover remained at the same level as in 2007, at 4.91 million RON (1.3 million euros), with this segment accounting for just 1% of the overall gross underwritten premiums.