Omniasig VIG in EUR 12 mln share capital increase

Newsroom 11/02/2014 | 19:27

Insurer Omniasig VIG announced on Tuesday a RON 53.1 million (EUR 12 million) expansion of its share capital to RON 439.4 million (EUR 983 million), in a move approved by shareholders in October 2013.

Omniasig VIG said the capital expansion is designed to sustain its operations and position in Romania. In the same time this underscores the “trust” of Austria’s Vienna Insurance Group, which owns the insurer, in the development strategy of Omniasig.

“Through this action, the group confirms once again its clear intention of staying in Romania on the long term and highlights the potential of the local insurance market,” said Omniasig in a statement.

The Austrian group has seen an 18.5 percent reduction in gross written premiums to EUR 374 million in Romania last year. Aside from Omniasig, the insurer controls in Romania Asirom and BCR Asigurari de Viata.

Ovidiu Posirca