Capital increases exceed losses on insurance sector

 “Although insurers closed 2007 with net losses, the market is stable and solvable. Capital increases will further consolidate market stability and help business development,” CSA President, Angela Toncescu, said.

21 insurance companies registered losses totaling €37 million in the first half of 2008. A further 22 insurers posted total profits amounting to €33 million. Thus, the net losses registered on the market totaled €4 million, several times lower than the €24 million in losses registered in H1 2007. A total 43 authorized companies are operating on the general and life insurance segments.