The only insurance company with Romanian majority capital,Astra, controlled by businessman Dan Adamescu, has budgeted adoubling of profit for this year, to 11.8 million RON (around 2.8million euros).
The company, which ranked fourth on the insurance market lastyear, plans to boost its gross underwritten premiums by 40% against2009, to over 1 billion RON. Currently, only the top two insurerson the market have surpassed the 1-billion mark: Allianz-Tiriac,with 1.29 billion RON in premiums underwritten last year, andOmniasig, with 1.11 billion RON. Groupama is no. 3, with 887million RON in premiums underwritten.
"We expect to see our profit double against 2009, based onestimates on gross premiums underwritten and on cost efficiencymeasures. We made cost cuts as early as last year. We managed tosee our rent cut by 25% and we decided not to advertise our winterRCA (auto liability insurance) campaign, which did not affect salesat all," Radu Mustatea, general manager of Astra, told ZF.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
