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Insurers get 420m euros from shareholders in a crisis year

02.12.2009, 20:44 6

Insurance companies on the Romanian market received from theirshareholders almost 420 million euros in the first year of crisis,i.e. in the September 2008 - September 2009 period, according todata from the Romanian Trade Registry (ONRC). Insurers'shareholders therefore pumped much more money into the system thanbanks' shareholders, who made capital increases worth 325 millioneuros in all. Around 65% of capital injections in the insurancesector, i.e. 271 million euros, came from shareholders in France.French group Groupama, the most active investor on the insurancemarket over the last two years has brought over 267 million eurosto the capital of companies it holds since September 2008. AnotherFrench shareholder that pumped money in the insurance sector isSociété Générale, which invested 3.3 million euros in BRD Asiguraride Viata (BRD Life Insurance), a company that has recently enteredthe market. The second-highest capital increase was operated byAustrian-held Uniqa, which invested over 77 million euros in Unita(which in the meantime changed its name to Uniqa Asigurari).

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