INSURANCE
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Astra And Gothaer Bid To Insure Tarom Fleet For Next 12 Months
Astra Asigurari and Gothaer Romania have submitted bids to insure the fleet of Romanian state-owned airline Tarom between September 1, 2014 and August 30, 2015, sources with the airline told...
Financial Watchdog Tightens Rules For Insurers Selling Mandatory Car Policies
Insurers that issue mandatory civil liability car insurance (RCA policies) will have to meet a certain level of solvency for their general insurance activity and will be forced to list broke...
High Expenses Keep Insurers In The Red
Insurance companies are paying 72% of a year’s gross written premiums to their customers in claim settlements, and their operating expenses amount to 42% of their revenue, which means revenu...
Fresh Rumors About Asirom-Omniasig Merger
Austria’s insurer Vienna Insurance Group (VIG), which owns three companies in Romania, allegedly decided to embark upon a new merger on the Romanian market, namely between Asirom and Omniasi...
Insurers In Romania Take Restructuring Further
Most insurance companies in Romania in 2013 took the downsizing process imposed by the crisis further and closed down almost 150 units of their territorial network and 1,000 people left the...
Insurance Brokerage Brings Good Profits
Insurance brokers posted an aggregated net profit of 114 million lei (EUR26 million) last year, and the margins of the 15 largest of them ranged from as low as 3% to as much as 75% of the to...
Insurance Market Declines 2.38% In January-April, To RON2.7B
The Romanian insurance market declined 2.38% in January-April, reaching underwritings of RON2.699 billion (RON600 million), on the backdrop of a 0.97% drop in general insurance to RON2.18 bi...
Insurance Industry Ends Eighth Year In The Red With EUR100M Loss
Insurance companies ended last year with a loss about 450 million lei (EUR100 million), 40% higher than in 2012. This is the eighth year in the red for the Romanian insurance industry, accor...
Romanian Insurers' Association Celebrates 20 Years Since Inception
The national association of Romanian insurers UNSAR has celebrated 20 years since inception at the end of last week on a market that has seen major foreign companies leave and huge scandals...