Omniasig recorded a pre-tax profit of 52.73 million lei (€12.4 million) in the trailing year, down 68.7% from 168.59 million lei (€320 million) pre-tax profit a year earlier.

“The few-percentage point drop in gross premiums written reflected the connection between the insurance industry and other recession-hit markets such as automotive, leasing, banking and real estate”, the insurer said in a release.

Insurance claims totaled 904.96 million lei (€213.57 million), up 21.71% from a year earlier. Car insurances accounted for 81.04% in the company’s 2009 profit.