Omniasig, the second-largest company on the Romanian insurancemarket last year, will see a 25% turnover decline in RON in thefirst six months of this year to 500 million RON, amid a decline indemand for auto and goods insurance.
"Traditional comprehensive insurance clients, who do not havebank instalments to pay, are much more cautious when it comes toextending insurance contracts this year. This is a negative signalfor the industry, with the situation to continue into the secondhalf of the year, because of the impact of the Government'sausterity measures," says Constantin Toma, general manager ofOmniasig, one of the most powerful managers on the Romanianinsurance market. The head of Omniasig expects the company'sturnover to decline to around 500 million RON (119 million euros)in the first six months of the year, down 25% against the similarperiod of last year.
In 2009 Omniasig made 200 staff redundant in a cost-cuttingmove, and now has 1,500 employees.
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