The decline in revenues from premiums was due to the general insurance segment, on which subscriptions plunged 18 percent, according to data published by VIG yesterday. Company officials said that the results in Romania were strongly influenced by the depreciation of the leu.
VIG’s subscriptions on the life insurance segment surged 65 percent in the first six months, to some €35 mln, due to the consolidation of the BCR Life Insurance business.
“Gross subscribed premiums calculated in lei posted a 0.6 percent annual rise in the first half of this year. On the life insurance segment, the group’s business soared 90 percent in local currency, while subscriptions on the non-life segment fell by only five percent,” the data presented by the Austrian company indicates.
VIG’s gross profit on the local market amounted to €12.1 mln, down 73 percent year-on-year. “A comparison of results with those registered last year is inconclusive, considering that VIG sold the Unita company,” the company report said.
