ASTRA Asigurari - non-audited results 2010

ASTRA Asigurari, the specialized Romanian market leader, has concluded 2010 with a volume of the total subscribed gross premiums amounting to lei 1,110,625,808, registering a 37% increase compared to 2009, in accordance with the preliminary results.

Financial results January - December 2010:

Increase of the net accounting profit by 246% compared to 2009, from lei 6,206,843 to lei 21,496,140;

Increasing the volume of subscribed gross premiums by 37%, up to lei 1,110,625,808. The ASTRA Asigurari company, a specialized market leader, has registered a net account profit amounting to lei 21,496,140 in December 2010, compared to the profit reported at the end of the previous year, amounting to lei 6,206,843. The volume of the total subscribed gross premiums, net of direct cancellations and establishments for re-insurance (life and non-vice) registered by the company between January-December 2010 amounts to lei 1,110,625,808, of which lei 1,095,622,859 is the volume of the gross premiums subscribed to general insurance, registering a 37% increase compared to 2009.

Radu Mustatea, president of the Astra Asigurari directorate: “We have managed to grow and to consolidate our business in a difficult time for the entire economy. Unfortunately, there is no favorable forecast for the Romanian insurance market in the near future. Even so, Astra Asigurari has set increases on the life and health insurance segment in 2011, as well as on the property insurance line."

For the insurance classes, in 2010 ASTRA Asigurari has obtained the following results:

- lei 863,904 million subscribed gross premiums for auto insurance, registering a 49% increase compared to the previous year, of which lei 600,247 million for vehicle liability insurance, registering a 110% increase;

- the subscribed gross premiums amounting to lei 145,532 on the building and assets insurance segment, registering a 7% increase. This means the business segment, with a 13% share of the total portfolio held;

- life insurance has registered a 49% increase compared to 2009, and the subscribed gross premiums have amounted to lei 14,876 million;

- lei 13,851 million subscribed gross premiums for Aviation Hull Liability Insurance (Casco), registering a 2% increase;

- lei 13,417 million subscribed gross premiums performed on the aircraft hull civil liability insurance segment;

- lei 14,622 million for Aircraft Hull Liability Insurance (Casco) + Marine Liability Insurance, registering a 25% increase compared to lei 11,745 million resulted in 2009.

The damages paid by the company have registered a 60% increase compared to 2009, in January-December 2010, from lei 327,662,126 in 2009 to lei 525,000,344 in 2010. The increase was mostly registered in the payment of general insurance damages, as, in the summer of 2010, ASTRA was the first insurer on the market paying compensations to insure the persons damaged by the unfortunate floods in Moldova, for files resulted due to damages occurring on the homes thereof.

Radu Mustatea, president of the Astra Asigurari directorate: “The improvement of services for all types of damages was one of our objectives last year, which is something we will focus on this year as well. The quality of services and the satisfaction of our clients both in the sales and in the post-sales service may make a difference between insurers. This is also why we have established investigation centers in Bucharest and in the largest cities in Romania and, at the beginning of 2011, we have established the Repair Scheduling Office, an efficient information platform through which the client will have access to all data on the repair of its car."

About ASTRA Asigurari

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

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 cover 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 entered the Hungarian market in the fall of 2010, 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.