BCR's two insurance companies' investments revealed

The net cumulated profit of BCR Asigurari and BCR Asigurari de Viata halved in 2007, to 8.2 million RON (5.5 million euros). The two insurance companies that belong to BCR – BCR Asigurari and BCR Asigurari de Viata, invest in municipal and corporate bonds, as well as in shares listed on the Bucharest Stock Exchange, according to a report on the group’s website, which presents the investment portfolio structure at the end of December. BCR Asigurari, which specialises in general insurance, invested in the shares of a number of listed companies, such as SIFs, Antibiotice Iasi, Biofarm, Petrom, Banca Transilvania, Oltchim, BRD-SocGen, Rompetrol Rafinare Constanta, Transelectrica, Transgaz, Turbomecanica, Compa Sibiu and Electromagnetica. The insurer also keeps its money in municipal bonds with a variable interest calculated as an average of BUBID and BUBOR for six months plus a 1.5 to 2% margin. BCR Asigurari also holds corporate bonds issued by BCR and ProCredit Bank. BCR Asigurari de Viata owns shares in companies listed on BSE such as Electromagnetica, Dafora, Cemacon, BRD-SocGen, Biofarm, Banca Carpatica, Albalact, Banca Transilvania, Transelectrica, SIF 3, Rompetrol Well Service, Iproeb and Impact. Its investments also include corporate bonds issued by BCR and ProCredit Bank.