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One company brings half of VIG's turnover and income

31.03.2010, 23:04 10

Austria's Vienna Insurance (VIG) group, leader of the Romanianinsurance market, with four companies in its portfolio, last yearderived 24.2m-euro gross income, down 58% from 2008, according tothe annual report the group published yesterday. Half the group'sprofit is brought by Omniasig, whose gross profit stood at 12.5meuros in 2009. Vienna Insurance also holds Asirom, BCR Asigurariand BCR Viata insurers, among the biggest players on the insurancemarket. "The profit drop came amid the sale of Unita insurer, withthe sale effect included in the gross income of the previous year,"reads VIG report. At present, VIG controls almost 30% of theinsurance market, with 606.7m-euro underwritten premiums, slightlydown from 2008, when underwritten premiums reached 608.2m euros.VIG turnover last year fell on the segment of general insurance,but life insurance underwritten premiums rose. Romanian operationsbring around 7.6% of the group's total gross underwrittenpremiums.

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