Astra’s first subsidiary abroad, called Astra Biztosito, was opened in Hungary, in October 2010, and posted revenue of 65.87 million lei (EUR14.5 million) in 2011.
“The decision to expand on the market in Slovakia is part of Astra’s strategic development plan for 2012,” said Alexander Adamescu, vice-president of Astra’s supervisory board.
Adamescu also said that in the beginning, Astra Poistovna will be operating on the business segments that place insurer Astra among the top insurers on the Romanian market, namely, assets and properties, voluntary car insurance (CASCO) and mandatory car insurance (RCA).
The subsidiary in Slovakia will be coordinated by Ondrej Zatko, former sales manager at Groupama Slovakia and specialist with over ten years experience in the insurance sector.
According to Adamescu, Astra also own a sales office in Germany, which sold the first insurance policies in August 2011.
Astra was set up in 1991 and has a share capital of RON192.71 million, controlled by The Nova Group Investments Romania SA (72.68%) and Epsilon Estate Provider SRL- (27.02%). The Nova Group Investments Romania and Epsilon Estate Provider are indirectly controlled by Romanian businessman Dan Adamescu.
Astra Asigurari registered revenues of RON788.67 million in the first nine months of the year. (EUR1=RON4.5339)