In absolute terms, share capital in the local insurance industry decreased by RON1.05 billion last year.
In 2011, insurers’ share capital fell 3.3% to RON4.04 billion.
According to ASF, overall share capital increases amounted to RON689.87 million last year, of which RON207.1 million came from new share issued by former BCR Asigurari during the takeover of Omniasig VIG.
Ten insurers reduced their share capital last year, by a total of RON1.74 billion.
At the end of 2012, foreign investors contributed 78.08% of insurers’ subscribed share capital (down from 91.22% in 2011) and the remaining 21.92% was Romanian share capital.
Austria is the largest foreign investor on the local insurance market, with 28.45%. It is followed by France (14.72%), The Netherlands (9.42%), the Czech Republic (5.09%) and Bulgaria (3,.68%).
(The figures in euro were computed using the central bank’s average exchange rate for 2012, of 4.456 lei/euro)