Omniasig’s premiums down 8% in first nine months in Romania

Insurer Omniasig underwrote premiums of RON 582 million (EUR 131 million) in the first nine months of 2014, down 8% year-on-year, while the company’s net result was a positive one, of RON 2.2 million (EUR 495,000), from loss the year before. “I’m sure we’ll end this year with positive results and we’ll reduce the pace of decrease in premiums. The profit was registered do to the balancing of RCA and CASCO shares in the income structure of auto insurance policies, plus an adequate pricing policy for each of the insured, and attracting new customers,” said Mihai Tecau, president of Omniasig’s board, cited by local Wall-street.ro. Omniasig is part of Austrian Vienna Insurance Group, which holds a 99% stake in the Romanian insurer. Irina Popescu, irina.popescu@romania-insider.com