The most profitable insurers revealed

The highest profit rate on the Romanian insurance market, calculated as net earnings divided by gross underwritten premiums, was posted last year by ATE Insurance, a small company, according to the 2007 report of the Insurance Supervisory Commission (CSA). ATE had a 77.8% profit rate, amid gross underwritten premiums worth 390,000 euros and a net profit worth around 300,000 euros. The top most profitable companies also include Asimed (44.09%), Delta (33.24%), AIG Life (11.89%), Garanta (11.85%) and Grawe (10.55%). Generally, some of the most profitable companies are life insurance and general insurance companies with a low exposure on the auto market, which is generating significant losses. For the overall market, the average net profit rate was 2.27%, according to CSA data. The largest company on the market, Allianz-Tiriac, posted a 2.58% profitability last year, while the largest life insurance player – ING Asigurari, derived a 5.52% profit rate. In absolute terms, companies with the highest net profits were Omniasig (10.2 million euros) and Allianz-Tiriac (9.6 million euros).