Astra, new leader of insurance market

Astra Asigurări, an insurance company controlled by businessman Dan Adamescu, has remained no. 1 after the first half of this year, according to information obtained by ZF, after recording a 40% turnover increase.

Astra for the first time took over at the helm of the insurers' ranking three months into the year, leaving behind Allianz-Ţiriac, the market leader for a good few years, thanks to bigger RCA sales (mandatory auto liability insurance). However, the most relevant results are those to be published at the end of this year. Alllianz-Ţiriac is yet to release first-half results but, according to market information, it continues to rank second halfway through the year.

Astra, the only Romanian-held insurer in the top ten, reported 581 million RON (140 million euros) in gross underwritten premiums in the first half of the year, up 41% against the similar period of last year, amid a declining insurance market. The rise was driven by auto liability insurance policies, which saw gross premiums triple, to 323 million RON (78 million euros).