Austrians come up with cash for Unita

Insurer Unita, held by Austrian group Wiener Staedtische has increased its share capital by the equivalent of six million euros to 394.08bn ROL (10.6 million euros).#leadend# “Unita therefore becomes one of the most capitalised companies in Romania, capable of honouring the obligations undertaken at any time,” Renato Szilagyi, general secretary of the company said. Unita is a top ten insurer in Romania in terms of premiums collected, ranking number five on the life insurance segment and number nine on the general insurance market. The Insurance Supervision Commission had instructed Unita to come up with a financial recovery plan a month ago, arguing it had found the insurer to be below the 50% liquidity quotient following a control. CSA has said this situation “threatens the capacity to honour the obligations undertaken to the insured.” ZF