Omniasig announces mergers and acquisitions

Omniasig is to merge with Asirag and AGI next year, both companies in which it has acquired significant stakes, and, if a new opportunity arises, will not hesitate before making further acquisitions, said Constantin Toma, general manager of Omniasig. “What with the upcoming European Union accession in 2007, we may become part of an international insurance group,” added Toma. Omniasig is number three on the general insurance market in Romania after Allianz-Tiriac and Asirom. Nine months through the year, Omniasig posted gross profits of $1.8 million (1.38 million euros), while subscribed gross premiums stood at $67 million (51.5 million euros). Settled claims amounted to $24.9 million (19.15 million euros). Total gross premiums subscribed by the end of November reached 68.3 million euros, up 24% on the same time last year. Omniasig’s main shareholder is TBI financial group. ZF