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Asirom: Car repair costs have tripled in the past year

Asirom: Car repair costs have tripled in the past year
23.10.2008, 17:01 8

Asirom in the first nine months of this year generated turnover worth around 155m euros. The claims rate improved for comprehensive auto insurance, but rose for auto liability insurance due to more expensive repair works. "(...) Over the past year and a half, repair costs have tripled and the price of car parts has also increased. I don't believe insurers should accept big losses, while car service centres make huge profits," says Boris Schneider, general manager of Asirom. The company plans to introduce repair cost control systems, such as Audatex or DAT. At present, at Asirom the claims rate for comprehensive insurance revolves around 80%, while it stands at 70% for auto liability insurance. According to some estimates, Asirom in the first nine months derived turnover worth 565-570m RON, a 22-23% increase from a year ago, Schneider explains. Auto liability insurance policies account for 45% in gross underwritten premiums, comprehensive insurance for around 35%, whilst the rest is general and life insurance. "We're still analysing financial data for the first three quarters, but I can say we'll see a profit and hit this year's target of 5-7m euros profit," Schneider adds. He counts on cash the company raised by selling assets not related with insurance operations. Schneider puts this year's turnover at 800m RON (over 220m euros).

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