The proposal is subject to shareholder approval at a meeting scheduled for November 8.
The share capital increase operation consists in issuing 15.33 million shares, with a face value of RON3.5 a share, which will be offered to shareholders for subscription.
In October 2012, the company’s shareholders decided to increase Omniasig’s share capital by RON138.3 million.
Omniasig is part of Austrian group Vienna Insurance Group (VIG), which owns over 99% of the insurer. VIG also own in Romania insurance company Asirom.
Omniasig’s revenues from underwritings reached RON437.96 million in the first half of 2013, down 20.2% from the year-earlier period.