Between 2011 and 2013, the insurer’s losses totaled RON626.5 million.
The insurer underwrote insurance premiums worth RON881.1 million in 2013, down 14.2% from RON1.027 billion a year earlier, due to lower revenue from mandatory (RCA) and voluntary (CASCO) car insurance policies, the company said on April 29.
RCA car insurance policies fell 11.5% on the year in 2013, while CASCO policies dropped by 33.1%, according to the company’s data.
In 2013, the insurer paid total damage claims worth RON793.5 million, down 23.2% from RON1.032 billion a year earlier.
Underwritten premiums generated by assets and property insurance totaled RON218.29 million in 2013, up 11% on the year, while the claims paid reached RON53 million.
On the civil liability insurance segment, the company underwrote premiums worth RON67.5 million and paid RON3.83 million in damage claims.
Omniasig is the second largest player on the Romanian insurance market and is part of Austrian group Vienna Insurance Group (VIG), which owns over 99% of the insurer.
VIG also owns life insurer BCR Asigurari de Viata and insurance company Asirom in Romania, which reported losses worth RON15.4 million and RON235.5 million, respectively.