Omniasig’s volume of gross written premiums in Romania down 16% in 2011

Insurer Omniasig Vienna Insurance Group reported a volume of gross written premiums of EUR 179.9 million in 2011, down 16 percent from 2010. “This drop was due to the direct connection between the insurance industry and other important segments of the economy, strongly affected by the crisis, such as the auto segment, leasing, banking and real estate,” reads a statement of the company. The amount of paid claims was EUR 153 million in 2011, and Casco insurance dropped to some EUR 70 million, with 30 percent less than the previous year. For property insurance, insurance against fire and natural disasters, the totaled gross written premiums valued EUR 26.7 million. For car insurance liability - RCA and Green Card, the company recorded an increase of 8.2 percent over the previous year, amounting to gross written premiums of EUR 64.5 million. Omniasig has been on the insurance market in Romania since 1995, and in 2005 became a member of the Austrian Vienna Insurance Group. Irina Popescu,, irina.popescu@romania-insider.com (photo source: Sxc.hu)