Astra ends year with 175-180m-euro business

Astra Asigurari, one of the top ten insurers on the Romanian market, ended last year with turnover worth 175-180 million euros, according to company estimates, i.e. an around 60% increase in euros. “In the last quarter, we preserved our nine-month growth rate, while full-year gross underwritten premiums amount to 175-180 million euros,” Radu Mustatea, the company’s general manager, told ZF. The business increase is due to auto insurance, which accounts for a significant share of Astra’s portfolio. For 2009, the insurer’s general manager forecasts a 10-15% turnover increase, similar to predictions for the overall market. Astra mainly sells general insurance and is leader of the aviation insurance segment. In December the company settled a 4.2 million-dollar claim for a Romavia aeroplane, after it had paid over 10 million dollars in early last year for damaged aircraft belonging to TAROM. Astra is controlled by businessman Dan Adamescu, via Nova Trade, which holds 70% of the shares. Austrian group Uniqa owns a 27% stake purchased in 2005 for 10 million euros.