Insurance company Unita, a member of the Vienna Insurance group, saw losses worth 21.39 million RON (6 million euros) last year, having previously posted 283,641-RON (80,502-euro) profit in 2005. One of the factors that drove the company into the red was the restructuring process Unita went through in 2006. The insurer transferred its life insurance portfolio to Omniasig Viata (Omniasig Life), another member of Austrian group Vienna Insurance, and decided to specialise in general insurance. Life insurance, one of the most profitable segments on the local market, was replaced in Unita's portfolio with general and, in particular, car insurance. Unita underwrote gross premiums worth 259.22 million RON (74 million euros) in 2006, 3.2% more than the 238.76 million RON (68 million euros) handled the previous year. In 2005, before Unita's restructuring, the company handled gross underwritten premiums worth 12.38 million RON (3.5 million euros) on the life insurance segment and premiums worth 238.76 million RON (67.7 million euros) on the non-life insurance segment. The decision of the Vienna Insurance group to have Unita specialise in general insurance prompted it not only to drop life insurance from its portfolio, but also to take over non-agricultural insurance business from Agras.
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