Romanian insurer records profit after two years of losses

Romanian insurer Omniasig recorded last year a net profit of EUR 3.5 million, after two years with cumulative losses of over EUR 90 million. Gross written premiums amounted to EUR 194 million, down 2.35% over the previous year. The mandatory auto liability insurance – RCA- reached EUR 60.8 million, whereas the optional auto insurance CASCO segment amounted to EUR 60.6 million. The company paid in 2014 total compensation of EUR 150.5 million. The amount of compensation paid for the auto insurance segment was EUR 108.5 million. Austrian group Vienna Insurance Group (VIG) owns Omniasig. It also controls insurers BCR Viata and Asirom. editor@romania-insider.com