The first quarter of this year saw a reversal in the insurancemarket ranking: Astra, held by businessman Dan Adamescu, climbed tothe no. 1 spot from fourth place last year.
Adamescu's company underwrote 330 million RON (80 million euros)in gross premiums in the first three months of the year, while lastyear's market leader Allianz-Tiriac posted 274 million RON (67million euros) in underwritten premiums.
Seeking to gain market share, Astra strongly focused on RCA(mandatory auto liability insurance), thus achieving 66% growth,while the other insurers in the top five fell by up to 30%.
However, the first quarter of the year is not always decisive:Omniasig was leader in the first three months of 2009, havingoutstripped Allianz-Tiriac, but by the end of the year it hadfallen back to second place.
Astra posted growth on RCA segment because it cut prices oncertain client segments, although RCA proved to be an unprofitablebusiness line. "Our revenues were pushed up by RCA, we positionedourselves on certain market segments, especially those dedicated toindividuals, with affordable prices, though not the lowest on themarket," says Radu Mustatea, Astra's general manager.
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