Omniasig sees 600% increase

Omniasig Asigurari de Viata (Omniasig Life Insurance) last year saw its business grow six times, but company officials expect the growth pace to slow down in 2003, given the tax legislation changes. The company last year reported subscribed gross premiums for life insurance of 150 billion ROL ($4.5 million), six times more in ROL as compared to the previous year. “Last year’s surge was grounded on the sales network consolidation,” said Florina Vizinteanu, the company’s general manager. Based on last year’s results, Vizinteanu expects the company to increase its market share from 0.5% to 2.5-3%. ZF