Omniasig’s underwritings are similar to the market leader Allianz-Tiriac’s, whose general insurance premiums were RON14 million higher.
Car insurances represent two thirds of the company’s portfolio.
According to Mihai Tecau, president of Omniasig Board of Directors, both the company and the market’s development are optimistic, which become more mature and settled.
VIG owns Omniasig, Asirom, and BCR Asigurari de Viata in Romania. Omniasig is the largest company owned by VIG on the local market and generates 50% of the group’s underwritings in Romania.
Peter Hagen, head of VIG, has recently told ZF the group will bring a RON5 million capital inflow to Omniasig in order to meet Solvency II standards with a rate of at least 125%.
VIG underwrote EUR194 million premiums on the local market in the first semester, up 4% compared with the same period a year before.
(English version by Manuela Panescu)