ASTRA Asigurari, 83% profit increase in S1/2010 compared to S1/2009 and a 41% increase for subscribed gross premiums

Financial results at the end of the 1st semester/2010

• Net accounting profit performed amounting to RON 11,363,128;
• Increasing the net accounting profit by 83% - continuing the ascending trend registered in Q1 / 2010;
• Increasing the volume of subscribed gross premiums by 41% compared to S1/2009;
• 223% increase for vehicle liability insurance compared to S1/2009;
• 36% increase on the Aviation Casco segment compared to S1/2009.

During the first 6 months of 2010, the ASTRA Asigurari company has registered a net accounting profit amounting to RON 11,363,128, registering an increase by 83% compared to S1/2009.

The volume of the net total subscribed gross premiums (life and non-life) registered by the ASTRA Asigurari company in the first semester of 2010 amounts to RON 581,084,227, of which RON 574,796,529 is the volume of the gross premiums subscribed to general insurance premiums, registering a 41% increase compared to the 1st semester of 2009.

Per insurance classes, during the first 6 months of 2010, ASTRA has obtained the following results:

• the most important increases were registered for: vehicle liability insurance, with subscribed gross premiums amounting to RON 323 million, with a 223% increase compared to S1/2009;
• life insurance has registered a 134 % increase, compared to the first semester of 2009, with the subscribed gross premiums amounting to RON 6.3 million;
• 36% increase on the Aviation Casco segment, with subscribed gross premiums amounting to RON 10.3 million;
• RON 8 million from hull civil liability insurance, maintaining the ascending trend registered during the previous year;
• RON 94 million consisting of subscribed gross premiums performed from the subscription on the building and assets insurance segment;
• RON 117 million from Casco auto insurance;
• subscribed gross premiums amounting to RON 4 million for hull casco and liability insurance.

The damages paid by the company have registered a 57% increase in the 1st semester of 2010 compared to the 1st semester of 2009, and the amount thereof increased from RON 148.41 million in 2009 to RON 233.26 million in 2010. The number of settled files amounts to 51,775, most of which result from subscription on general insurance.

“We are glad to notice that the strategy adopted in 2009 is paying off in a difficult economic year such as 2010. The implementation of the electronic insurance policy issuing system, the variation of distribution channels and the activation of unique channels, the adaptation of insurance products to the end-user’s profile, together with the release of niche products, creating the option of acquiring insurance policies online on our specialized portal, increasing the quality of insurance services, as well as the compensation of clients are factors leading to such results. We have thus proven that we, the most important Romanian company on the insurance market, have used team work and motivation, together with the rigorous organization of resources and priorities, to grow and to become stronger in an extremely difficult economic period”, declared Radu Mustatea, President of the ASTRA Asigurari Directorate.

About ASTRA Asigurari

ASTRA Asigurari is a PAID founding member, holding the maximum contribution accepted by law, of 15% of the share package of this insurance pool. The company has recently made it possible to perform the electronic subscription of the DIP mandatory home insurance policy and of the PAD complet policy on www.astraonline.ro.

In order to support its clients and to provide them with maximum quality and promptitude services, the company is developing a project on opening damage investigation centers in large cities in the country, with the last official opening taking place at the Damage Investigation Center in Constanta, on July 20th, this year.

As a market leader on marine and aviation hull insurance, the company will attend the Aeromania events at the end of this week, organized between August 7th and 8th by the Regional Air Services - Tuzla Airfield, on Mamaia Beach, and the Yachting International Championship 2010, organized by the Romanian Yachting Federation, between August 1st and 7th, in Tomis Constanta Port. The company has also participated as a sponsor and as an Official insurer to Class One Romania Grand Prix, the equivalent of Formula 1 on water, as well as to Aeromania and World Elite Acrobatic Formula 2009, two aviation shows that brought renowned pilots and acrobats together at the Black Sea.

Press Office - mihaela.constantin@astrasig.ro