Romanian insurer Asirom records EUR 53 mln loss in 2013

Romanian insurer Asirom, owned by Vienna Insurance Group, ended 2013 on a loss of RON 235.5 million (EUR 53.4 million), from a profit of RON 14.9 million (EUR 3.3 million) reported the year before. On the general insurance segment, the insurer posted losses of RON 241.9 million (over EUR 54 million) in 2013, from a profit of RON 14.6 million (EUR 3.2 million) in 2012, while the profit on life insurance fell by over 57 percent, to RON 7.5 million (some EUR 1.7 million). Austrian insurer Vienna Insurance Group posted premiums of EUR 361.8 million in Romania in the 2013 financial year, a decrease of 11.5 percent against the previous year, according to the company’s recent financial results. The insurer also recorded a negative result before taxes of EUR 98.7 million, “which had a substantial effect on the combined ratio, moving it far above the 100 percent mark”. editor@romania-insider.com