INSURANCE
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Insurance Market Net Loss Up Eight Times In 2011 To RON330M
Romania's insurance sector posted net losses of 329.7 million lei (EUR72.2 million) in 2011, up eight times compared with 2010, according to Finance Ministry data centralized by MEDIAFAX.
Astra, Omniasig, Platinum To Insure Interior Ministry Helicopters For EUR4.9M
Romania's General Aviation Inspectorate will insure its helicopter fleet with Astra, Omniasig and Platinum Asigurari for 22.15 million lei (EUR4.9 million) over the next four years.
Basic Healthcare Package Won't Cover Minor Illness
The basic package under Romania's new healthcare law will no longer cover minor illnesses, but mainly major risks and serious disease, and the system will receive extra funding from mandator...
Alico Wins Contract To Insure CSA Staff
Romania’s insurance market regulator CSA will pay insurer Alico 27.7 million (EUR6.1 million) in the next five years to insure its staff, people familiar with the matter told Mediafax Wednes...
Eureko Calls It Quits After EUR30m Losses In Eight Years In Romania
Insurance giant Eureko plans to leave Romania early next year after having invested tens of millions of euros in its local subsidiary to offset its losses year after year, sources in the ind...
Only A Handful Of Insurers Still Making Profit
Large insurers have fully felt the impact on the crisis over the last few years and many of them posted two-digit decline of revenue and lost market share to smaller players or to those that...
Insurers: Private Health Insurance Deductions Should Be Clearly Stipulated In Tax Code
Insurers and providers of private healthcare in Romania think that stipulating fully deductible private health insurance in the Tax Code is key to the continuation of reform in the healthcar...
AXA Life Insurance Romania Wants To Double Underwritten Premiums To RON49M In 2012
AXA Life Insurance Romania wants to double revenues from underwritten premiums this year to 49 million lei (EUR11 million), the insurer’s sales manager, Dan Buta, told a news conference Tues...
Insurers That Sell General Insurance Policies Face Losses - CSA Head
The acquisition costs, reserves and damages paid by Romanian insurers that sell general insurance policies exceed revenues from underwritten premiums on this segment, Constantin Buzoianu, pr...