ASTRA Asigurari, closer to Romanians with each passing day

Today, July 20th, 2010, the ASTRA Asigurari company is performing the official release, in a press conference, of the Damage Investigation Center in Constanta. The center is located in professional, modern premises, within the Tomis Plus Residential Complex in Constanta, and it is ready to receive its clients, as well as its damaged insured persons.

The event benefited from the attendance of local authority representatives, company collaborators (brokers, partner services) and the management of the ASTRA Asigurari company: Mr. Radu Mustatea, President of the ASTRA Asigurari Directorate, Mr. Dacian Vinereanu, Vice-president of the Directorate, Mr. Razvan Ieremia, Member of the Directorate and Damage Manager, Mr. Mircea Ghindea, Manager of the New Damage Investigation Center in Constanta and Mr. Bogdan Caracuda, Manager of the ASTRA Asigurari Branch in Constanta.

The opening of the Damage Investigation Center in Constanta is part of a more complex project of the Company. ASTRA Asigurari is a market leader on the auto insurance segment in Romania, justifying the large number of files the Insurer instruments on a monthly basis. In order to provide it clients with the best compensation services, the ASTRA Asigurari management implemented a program for the opening of several such centers in large cities such as: Bucharest, Constanta, Iasi, Timisoara and Ploiesti.

“We are a company that is constantly changing. With each passing day we want to be closer to Romanians, to provide them with prompt, quality services. The other day I was in Northern Moldova and I was compensating people who have lost their homes due to the catastrophic floods we have all witnessed. Today, we are doing the exact opposite of that and we are opening a Damage Investigation Center for the inhabitants of Constanta. We have grown to hold the First Position in the Top Romanian Insurers, which only makes us want to be better, more prompt, closer to the clients and collaborators who have placed their trust in us”, declared Radu Mustatea, President of the ASTRA Asigurari Directorate.

ASTRA Asigurari is also a market leader on the marine and aviation hull insurance segment, as the marine activity is exclusively performed by the ASTRA Asigurari Marine Directorate in Constanta. Some of the company’s most important clients on this segment include: PETROMIN, Constanta Shipping, Orsova Navy Yard, Constanta Navy Yard, Sea Rescue Group.

About compensation paid by the company

The number of damage files approved by ASTRA Asigurari at the end of June 2010 was 61,025, of which 2,512 files were in Constanta. At the end of June 2010, the amounts paid by the company for compensation amounted to lei 228,532,820, of which lei 8,123,678 were compensations due to damages registered in the Constanta county area.

We would like to mention that at this time the company has over 350 damage files resulted from damage registered due to the floods on the Norther part of the country, that are subject to approval, and a large part thereof has already been subject to payment 2 weeks ago. The damage reserve established by the company for the payment of such files amounts to RON 3 million.The highest marine insurance compensation paid by the company was for the Transbora ship, where the amount compensated by ASTRA Asigurari was USD 2,814,461.76.

Moreover, ASTRA Asigurari is the company that has paid the largest damage in the history of Romanian Insurers, for the Tarom aircraft, a Boeing 737-300 traveling to Sharm El Sheikh on 30.12.2007. During take off from the Henri Coanda International Airport, the aircraft hit a utility vehicle located on the tracks. Within the meaning of the Airline Hull & Liability policy, ASTRA paid the TAROM company the insured value of the aircraft, amounting to USD 10,000,000, as well as USD 432,400 consisting of expenses for the movement of the wreck.

About ASTRA Asigurari

At the end of Q1/2010, ASTRA Asigurari registered a net accounting profit amounting to RON 4,850,731 RON and a 65% increase compared to the 1st quarter of 2009, as the company came in First in the Top Romanian Insurers. The volume of the total subscribed gross premiums (life and non-life) registered by ASTRA Asigurari as of 31.03.2010 amounted to RON 329,821,943, of which RON 327,089,944 is the volume of gross premiums subscribed to general insurance.

During the first quarter of 2010, life insurance increased by 88% compared to 31.03.2009, and the performed subscribed gross premiums amounted to RON 2,731,999. Important increases were registered for the following products: Garant, with subscribed gross premiums amounting to RON 1,603,136 (53% increase) and Economica, with subscribed gross premiums amounting to RON 350,431, increasing by 392% compared to the similar period of the previous year.

At the end of March this year, within the Award Gala of Insurance Market Awards, ASTRA Asigurări received the “Insurer of the Year” Award, on the general insurance segment. For the successful implementation of the system on the electronic issuance of insurance policies, ASTRA Asigurări, the most important insurance company with Romanian majority capital was awarded the Special Award for PROFESSIONALISM and PERFORMANCE.

Another awarded presented to ASTRA Asigurari for its achievements was the Award on “The most dynamic Insurer on the Agriculture segment in 2009”, provided by the FinMedia media trust. Contacts for ASTRA Asigurari Constanta:

Mircea Ghindea, Manager of the Damage Investigation Center in Constanta, mircea.ghindea@astrasig.ro , tel.0744/508.292;

Bogdan Caracuda, Constanta Branch Manager, bogdan.caracuda@astrasig.ro , tel. 0749/239.253;

For Franchise, Marine Directorate Manager, petru.sufragiu@astrasig.ro , tel. 0740/228.466.

Press Office - mihaela.constantin@astrasig.ro