Omniasig paid EUR105.6 mln in indemnities in H1

Vienna Insurance Group’s Omniasig insurance company paid to its clients a total of 446.72 million lei (€105.6 mln) for insurance claims, 33.61percent more than the same period of last year.

In car insurance segment, both the third-party liability and casco policies recorded a significant increase by value of indemnities paid, according to the press release remitted by the insurer.

The value of indemnities for Casco policies soared 52.61% while for third-party liability insurances increased by 54.82% from a year earlier.

As for travel insurance policies, the total value of indemnities increased by 47%, versus 1.63 million lei revenues in the form of gross premiums written, 18% below year-ago levels.

As for property damage insurance segment (coverage for losses resulted from fire or natural disasters), the company recorded total GPW of 78.53 million lei, 3.76% less than a year earlier.

Currently, car insurances account for 81% of the company’s portfolio. Omniasig reported 1% increase in casco insurance business line, up to 323.76 million lei. The third-party liability segment generated 158.89 million lei in the form of GPW, 0.12% less from a year-ago half.

In the civil liability segment, gross premiums written totaled 8.64 million lei in the six months through June, 16.43% above year-ago level. Omniasig recorded a significant increase in the aviation insurance segment, up 68.60% to 3.62 GPW.

The cargo insurance class (that covers shipments in transit) increased by 33% in the period under review, to 5.87 million lei.

Overall, the insurer recorded GPW of 595.95 million lei (€141 mn), down 3% compared to the same period of last year, according to the International Financial Reporting Standards.

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