Omniasig Viata: 40% drop in underwritten premiums

Omniasig Asigurari de Viata (Omniasig Life Insurance) underwritten premiums were worth some 8.5 million euros (30 million RON) in the first nine months, a 40% drop against the same time last year, according to company representatives. This drop was triggered by the fact that Omniasig Asigurari de Viata ended its partnership with the BCR and CEC (The Romanian Savings Bank), which provided over 50% of the company’s total volume of underwriting. The management of Omniasig Life tried to compensate for the drop in the volume of premiums by developing the distribution channels. The company has its number of offices from the 40 it had in June, to 60, as well as is now employing 2,500 insurance consultants countrywide. Omniasig Asigurari de Viata concluded last year with about 17 million euros in underwriting and a more than 6% share of the life insurance market.