VIG reports 47.1% increase in gross written premiums in Romania

The premiums of the group companies of the Vienna Insurance Group amounted to 608.22 million overall in 2008 which corresponds to an increase of 47.1%.

In the non-life segment, the premium volume amounted to EUR 569.16 million and therefore increased by 42.3 percent. The premium increase was also significant in the life segment with a rise of 187.1 percent in premiums to EUR 39.06 million.

The profit (before taxes) amounted to EUR 57.46 million in 2008. The Vienna Insurance Group is represented in the Romanian insurance market with five companies. They are the Omniasig Non-life and Omniasig Life, the Asirom and the newly acquired companies BCR Non-life as well as BCR Life. The Vienna Insurance Group is number 1 in the market with a market share of 30.6 percent.

In 2008, the Vienna Insurance Group achieved an increase of 14.3 percent to EUR 7.90 billion with total premiums written (consolidated) in contrast with the previous year.

In the property/casualty segment, total premiums of EUR 4.28 billion were written. This represents a strong increase of 16.6 percent. In life insurance, the Group companies in the Vienna Insurance Group achieved written premiums of EUR 3.31 billion overall, translating to a 12.7 percent increase over the prior year.

In 2008, the Group profit (before taxes, consolidated) amounted to a total of EUR 540.80 million, up 23.7% from prior year.
The group said it would pay out a dividend of EUR 1.10 per share in 2008 as well as a bonus dividend of EUR 0.90 per share be distributed to the shareholders in late autumn 2009.

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