Vienna Insurance nine-month gross profit in Romania gains 29.2% following rise in GPWs

The Austrian-based Vienna Insurance Group saw a 4.41 million euros better-than-expected gross profit coming from four of the total five insurance businesses managed in Romania.The result was based on an 80 percent hike of the GPWs.

The final result took into account the gross profits posted by Omniasig, Omniasig Asigurari de Viata, Unita and farming insurer Agras, excluding that of Asirom.

VIG this month became the main shareholder of the local insurance company Asirom, after increasing its stake to 50.2 percent. The Austrian company holds 27 percent of the insurance market in Romania, climbing to the No.1 position.

Asirom was founded in 1991 following the privatization of the former Administration of State Insurances and which led to the creation of two companies: Asirom and Astra. Asirom has a share capital of 63.786 million lei divided in 637.86 million shares.

Sourc: NewsIn