The Romanian insurance market leader registers a 331% increase of its net accounting profit at the end of the third quarter in 2010

The financial results performed in Q3/2010:

• Increase of the net accounting profit by 331% compared to the similar period in 2009 - from lei 4,179,465 to lei 18,005,629;
• Increase of the subscribed gross profit volume by 37 % compared to Q3/2009.

In the first 9 months of this year, the ASTRA Asigurari company has registered a net account profit amounting to lei 18,005,629 compared to the profit reported during the same period last year, amounting to lei 4,179,465.

The volume of the total subscribed gross premiums, net of direct cancellations and re-insurance establishments (life and non-life) registered by the company after the first 9 months of 2010 amount to lei 841,244,960, of which lei 829,873,348 is the volume of the gross premiums subscribed to general insurance, registering a 37% increase compared to the third quarter of 2009.

In 2010, the company has updated the most important range of products it had in its portfolio, bringing them closer to the current needs of Romanians and, at the same time, it developed niche products, it accessed traditional, as well as alternative sales channels, it developed electronic and online subscription for the segment of clients using Internet services.

According to the insurance classes, during the first 9 months of 2010, ASTRA Asigurari has obtained the following results:

• lei 655 million gross premiums subscribed to auto insurance, registering a 53% increase compared to the similar period of last year, of which lei 453 million gross premiums subscribed to vehicle liability insurance, registering an increase by 144%;
• the subscribed gross premiums amounted to lei 115 million on the building and assets insurance segment, representing the business segment with a 14% share of the total portfolio held;
• life insurance policies have registered an increase by 58% compared to Q3/2009 and the subscribed gross premiums amounting to lei 11.4 million;
• lei 11 million for Aviation Hull Liability Insurance (Casco), registering an increase by 15%;
• lei 8.4 million subscribed gross premiums performed on the aircraft civil liability insurance segment;
• lei 7.4 million in Hull Liability Insurance (Casco) + Marine Liability Insurance, registering an increase by 30% compared to the lei 5.7 million performed during the similar period last year.

“Profit and growth - a rare concept, especially in a difficult economic-financial context. Always in the race against time, we have proven that any target is possible if we analyze carefully, plan minutely and implement the strategies that are proper for the market on which we activate. We are a dynamic and strong team, we innovate, we invest, we support our clients and we provide them with quality support and services", declared Mr. Radu Mustatea, President of the ASTRA Asigurari Directorate.

The damages paid by the company have registered a 59% increase in the third quarter of 2010 compared to the third quarter of 2009, from lei 233 million in Q3/2009 to lei 371 million in Q3/2010. The increase was mostly registered in the payment of damages for general insurance, in the summer of this year, as ASTRA was the first Insurer on the market to pay the insured damaged by the unfortunate floods in Moldova with files resulted from the damages on the homes thereof.

News on ASTRA Asigurari

On the introduction of the duty of home insurance, ASTRA Asigurari is the first company on the market to provide Romanians with the option of concluding the DIP mandatory home insurance in real time, online, by accessing www.astraonline.ro. In order to provide Romanians with a higher coverage of its insurance policy, ASTRA Asigurari has created the PAD PLUS product. The PAD PLUS policy is created to supplement the DIP policy with a wider range of coverage, for an affordable price for the client, and the insurance is also concluded for homes located in areas that are subject to flood.

The company has recently entered the Hungarian market, opening the ASTRA BIZTOSITO branch in Budapest, where it will begin by subscribing on the following segments: vehicle liability insurance, property and Casco. Moreover, the company has adapted the online sales portal www.astraonline.ro to the neighboring market, creating www.astraonline.hu.

Another recent achievement of the Romanian Insurer is the re-launching of the company website, www.astrasig.ro, with a more attractive and friendlier homepage that offers more information of interest to the external public, with news on the company events or the social responsibility actions supported by the leader.

Who are we?

In 2010, ASTRA Asigurări is the No. 1 company on the Romanian insurance market, a market leader on the aviation, property and vehicle liability insurance segments. The company has focused especially on the retail segment and it has developed interconnection partnerships with some of the most important brokers. The company has the widest sales network on the insurance market, with over 270 branches, agencies and points of service at a national level and a portfolio of over 60 types of products on general, life and health insurance, with multiple versions, meeting its clients’ widest range of insurance options.

Press Office: mihaela.constantin@astrasig.ro