CertAsig largest insurance policies for Romanian companies at EUR 77.8 mln in Q1 2017

Insurance company CertAsig registered the top insurance policies in a civil liability for a Romanian utility aviation company, for a technical insurance of a logistics company from Romania and an insurance policy for a infrastructure construction company from Romania, all of them amounting to EUR 77.8 million in the first quarter of 2017.

Also the top included insurances of a known industrial components producer from Bulgaria and a goods insurance policy for a textile producer from Bulgaria, overall amounting to EUR 68.8 million, as well as a marine company policy from Turkey, worth EUR 14 million.

Thus the company diversified its products portfolio, as well as the geographic areas. It comprises 20 units of insured drones, as well as marine vessels, 27 percent insured of the Romania’s forests and several companies insured against terrorism risk, especially in the last six months.

“Our clients come from several activity fields, but the main segments include transport, logistics, production and warehousing companies, as well as IT and construction companies. On the main corporate insurances market, we see 2017 as an year with a higher maturity for the companies, which understand better and better that the right insurance can bring them an advantage in business,” said James Grindley, CEO CertAsig.

The company aims to reach a value of the gross written premiums to EUR 17 million overall in 2017 in the areas where it is present. On the first quarter, it obtained a value of EUR 3.3 million, a growth by 6 percent compared with the first quarter of 2016. The overall gross written premiums reached EUR 13.5 million in 2016. Also one of the objective for 2017 of the company is to automate the underwritings.

CerAsig portfolio is reinsured by international reinsurers, including Swiss Re, Hannover Re, Partner Re and Lloyd’s .

CertAsig, whose main shareholder is Royalton Capital Investors II, is present in Romania, Poland, Slovakia, Turkey, Slovenia, Lithuania and Czech Republic.