At the same time, claim and operating expenses leapt by 55%, 22% respectively year-on-year. However, core activity losses narrowed by 26%, to EUR49 million.
The Austrian company did not report the volume of gross underwritten premiums for the entire 2013, but after the first nine months of the year their level had reached 443 million lei (around EUR100 million). Around half of underwritten premiums had been transferred to reinsurance.
Almost 85% of these were underwritten on the car policy segment.
According to the group, the lower-than-expected figures registered in the second half of 2013 came on the strategic moves of curbing the car insurance business on the markets of Romania, Ukraine and Poland.
The Austrian group says the operating loss registered by the insurer of Romania had a 0.3% impact on the combined ratio (the most important performance gauge in insurance) at group level.
(English version by Catalina Apostoiu)