Revenue from general insurance declined to RON292.05 million from RON331.96 million in the first quarter of 2011. On the life insurance segment, Astra’s revenue increased by 29.3%, to RON3.6 million.
The company paid claims worth RON156.5 million on the general insurance segment, compared with RON162.5 million in the first three months of 2011; life insurance claims totaled RON398,736 in the first quarter, up 20.4% on the year.
Astra was founded in 1991 and has a share capital of RON192.71 million, owned by The Nova Group Investments Romania SA – 72.68% and Epsilon Estate Provider SRL- 27.02%, while the remaining 0.3% is distributed among several shareholders.
The Nova Group Investments Romania and Epsilon Estate Provider are indirectly controlled by businessman Dan Adamescu.
Last year, the insurer posted RON1.03 billion in underwritten premiums, making it the top insurer on the local market.
The Romanian general and life insurance market shrunk by 4.3% in 2011, to RON7.95 billion. (EUR1=RON4.4411)