Romanian insurer Omniasig, part of Austria’s Vienna Insurance Group (VIG), won again Tarom account and will receive USD 1.8 million to insure the 25 aircraft of the Romanian flag carrier, local Profit.ro reported.

It was the only one of the prospective bidders that submitted an offer in the auction organised by Tarom.

Omniasig had also insured Tarom’s fleet in the past during 2004-2005. Over the past two years, Marsh Romania won the largest contract in country’s aviation sector and received USD 1.37 mln in 2017 alone. The value of the premium subscribed by Tarom increased this year in line with the value of the fleet, which expanded and was subject to upgrade.

Overall, the value of Tarom’s fleet increased by 17% compared to last year. The number of passengers transported by the company also increased by 22% compared to 2017. The air carrier uses 25 aircraft, four of which are Airbus 318-100, four Boeing 737-300, four Boeing 737-700, four Boeing 737-800, seven ATR 42-500 aircraft and two ATR 72-500 aircraft.

The total value of the compensations paid by insurers to Tarom in 2005-2017 for damage amounted to USD 15.4 million, out of which USD 10 million was for the replacement of an aircraft that hit a car on the runway. The accident was recorded at the end of 2007 at Otopeni Airport.

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editor@romania-insider.com