“In the first five months of 2014, PAID paid damage claims of RON358,380 (EUR80,000). The pool approved 204 damage claim files and constituted reserves of over RON1.5 million,” PAID said in a statement Tuesday.
In 2013, the insurance pool paid damage claims of RON473,400.
PAID was set up in September 2009 and has a share capital of RON19.34 million. Its biggest shareholders are Astra, Groupama and Gothaer Romania, each with 15%, while Generali Romania owns 11%, and ABC Asigurari, Carpatica Asig, Certasig, City Insurance, Credit Europe Asigurari, Euroins, Grawe Romania and UNIQA Romania each own 5.5%. PAID issued the first mandatory home insurance policies in July 2010.
At the end of April this year, PAID had a portfolio of 1.16 million home insurance policies. There are around 8.5 million homes in Romania.