$18m for Ardaf

Cluj-based insurer Ardaf cashed 593.8bn ROL ($17.95m) in insurance premiums in H1, up from the 378.7bn ROL ($11.5m) cashed in the first half of 2002. Moreover, the insurer posted 53.9bn ROL losses, down from the 277.7bn ROL recorded on June 30, 2002, according to company officials. Ardaf paid 254.3bn ROL in damages, up from 172.1bn ROL. General insurance premiums accounted for the bulk of revenues – more than 97% (580.3bn ROL or $17.54m), whereas life insurance premiums amounted to 17.3bn ROL ($407,030), almost double the level posted in the year-ago period. ZF