Omniasig, ranking second on the insurance market, controlled byAustria's Vienna Insurance, last year for the first time posteddecline in underwritten premiums, by 6%, to 1.11bn RON (264meuros), according to the data published by the company in line withIFRS. "The several percentage points drop was registered amid theinterconnection between the insurance industry and many other majorfields of the economy: the car, leasing, banking and real estatesectors, which were the hardest hit by the economic downturn,"explained Omniasig representatives. The company's gross income wentdown to 52.7m RON (12.5m euros), from 141m RON net in the previousyear. In 2008, the company's profits soared after the sale of thestake in Unita insurer to Austria's Uniqa. Omniasig operates onlyon the market of general insurance, which shrank by 2% last year,according to the Insurance Supervision Commission data, afterseeing increases of above 20% in previous years.
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