Viena Insurance Group profits before tax drop by 89 percent on H1

Newsroom 18/08/2011 | 15:28

Viena Insurance Group, which controls 4 companies in Romania, has seen the volume of written premiums slightly increase by 0.6 percent, from EUR 274 million in the first half of 2010 to EUR 275 million.

The property and casualty lines decreased by 0.2 percent in volume, from EUR 225.7 million in the first half of 2010 to EUR 225.2 million. Premium income from the life line increased by 4.6 percent to EUR 50.5 million.

The difficult situation of Romania’s economy lead to a drastic reduction of profits before tax by 89 percent to EUR 1.56 million, from EUR 14.3 million in the first six months of 2010. In the first quarter of 2011, Viena Insurance Group grew by 3 percent, while the market contracted by 8 percent. In addition, the company maintained its leading position with a 30 percent market share.

The Austrian insurer plans a merger between BCR Insurance (non-life) and Omniasig, two of the companies it controls in Romania.

The Vienna Insurance Group is represented by four insurance companies in the Romanian market. These companies of the Vienna Insurance Group include Omniasig Non-life and Asirom, as well as BCR Non-life and BCR Life.

Ovidiu Posirca

BR Magazine | Latest Issue

Download PDF: Business Review Magazine March (II) 2024 Issue

The March (II) 2024 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “BAT DBS Romania Hub: A Vibrant New Office For An Employee-Centric
Newsroom | 27/03/2024 | 17:32
Advertisement Advertisement
Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue