Astra Asigurari insurance company, controlled by businessman DanAdamescu, ended 2010 at number 1 on the insurance market, with the37% business increase strengthening its position as leader,achieved in the third quarter.
The company underwrote 1.1 billion lei (260 million euros) ingross premiums (the main indicator of the volume of business ininsurance), thanks to doubling its revenues from the sale of autoliability insurance (RCA), according to preliminary financial data.Auto liability insurance policies totalled 600 million lei lastyear compared with 286 million lei in 2009, while on thecomprehensive insurance (Casco) segment, business fell 10% to 264million lei. Auto insurance accounts for more than three thirds ofAstra's business, but company representatives say this year theywill rely more on life and home insurance.
"Unfortunately, good times are not yet ahead for the insurancemarket. Even so, we are planning to see rises on the life insuranceand health insurance segments and on the property insurancemarket," said Radu Mustatea, chairman of Astra's Board.
The insurer underwrote 145 million lei in premiums on thebuildings and goods segment in 2010, 7% more than the in thepreceding year. The company's life insurance portfolio is in aburgeoning stage, so the volume of business on this segment was 15million lei last year, accounting for an around 1% marketshare.
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