Insurers Generali Romania and ING Asigurari de Viata also submitted bids.
The insured sum ranges between EUR25,000 and EUR200,000 per person, and the contract is financed from CSA’s own revenue resources, according to the auction participation announcement.
CSA’s revenue resources represent the contributions paid by insurers and insurance brokers. In 2010, the institution registered a surplus of RON5.16 million, and revenues of RON59.28 million, according to data from CSA’s annual report.
Underwritten premiums on the general and life insurance segment amounted to RON7.95 billion last year, down 4.3% compared to 2010, due to a 6.5% fall of the general insurance market, to RON6.21 billion, according to the preliminary data released by CSA.
On the life insurance segment, underwritten premiums amounted to RON1.74 billion in 2011, up 4.6% on the year.
Alico Asigurari Romania was set up in 1998 and is ranked third on the local insurance market regarding underwritten premiums, after ING Asigurari de Viata and BCR Asigurari de Viata.
In 2011, it registered a profit of RON74 million, up 7.4% compared to 2010, and revenues from underwritten premiums of RON207 million, up 1%.
Since November 2010, the insurer is part of American group MetLife. (EUR1=RON4.5237)