The company will issue 1.104 million new shares with a face value of RON10 each, offered to the shareholders for subscription at RON20 each.
BCR Asigurari de Viata is a member of the Vienna Insurance Group, which also owns Asirom and Omniasig on the local market.
The insurer’s shareholders are Vienna Insurance Group AG – 91.31%, Banca Comerciala Romana – 5.41% and various individuals – 3.28%.
BCR Asigurari de Viata ranks second on the local market by premiums underwritten in 2011 – RON344.64 million, behind ING Asigurari de Viata and ahead of Alico Asigurari.
Last year, the insurance market declined by 4.3% to RON7.95 billion, as revenue from general policies fell by 6.5%, to RON6.21 billion, while revenue from life insurance policies grew 4.6% to RON1.74 billion according to regulator CSA. (EUR1=RON4.5647)