Foreigners invest in February almost EUR 100m in insurance companies activating in Romania

Foreign capital infusions in the insurance companies in Romania amounted in February to 98.3 million euros, 2.5 times more than reported in the same month last year, according to the information posted by the Trade Register Office, NewsIn informs.
Capital injections stood in February 2008 at 39.68 million euros and at 16.97 million euros in the first month of 2009.

The largest input, of 41.85 million euros, was made by the French insurer Groupama into BT Asigurari and Asiban. A short distance away is Austria's Vienna Insurance Group (VIG) with 41.7 million euros pumped into insurer Unita's share capital. Aviva Asigurari de Viata comes in third, having increased its share capital in February by 7.68 million lei.

The insurance segment drew all in all some 240 million euros in foreign capital inflows. BT Asigurari took the largest gulp of 55.29 million euros and was followed by Unita with 35.9 million euros and Omniasig – Vienna Insurance Group with 30.63 million euros.

Insurers activating on the Romanian market reported last year gross premiums written of 2.38 billion euros, 22.4 percent up from 2007, according to the market watchdog CSA.

About 20 companies are planning to enter the mandatory house insurance market starting with July 1, when the respective law should come into force.

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