BCR Asigurari De Viata Posts RON18.7M Pretax Profit In 2010

04.15.2011 By Andrei Circhelan

Romanian insurer BCR Asigurari de Viata posted a pretax profit of 18.72 million lei (EUR1=RON4.0966) in 2010, up 39.5% on the year, based on a 20.5% increase in premiums subscribed, company general manager Florentina Vizinteanu told MEDIAFAX Friday.

Romanian insurer BCR Asigurari de Viata posted a pretax profit of 18.72 million lei (EUR1=RON4.0966) in 2010, up 39.5% on the year, based on a 20.5% increase in premiums subscribed, company general manager Florentina Vizinteanu told MEDIAFAX Friday.

"We have concluded the year 2010 as planned, with significant growth in the amount of premiums subscribed, as well as in profit. (…) Net profit will be entirely distributed among shareholders," Vizinteanu said.

According to data from Romanian insurer union UNSAR, the company subscribed premiums worth a total RON307.34 million and paid damagers worth a total RON25.54 million.

This year the company plans to increase its profit and the amount of premiums subscribed, but Vizinteanu did not go into details.

The company has a share capital of RON21.93 million and it is 91.31% owned by the Vienna Insurance Group, or VIG, while Romanian lender BCR holds a 5.41% stake. Other insurers held by VIG in Romania include BCR Asigurari, Omniasig and Asirom.

The top player on the Romanian insurance market at BCR Asigurari de Viata, ING Asigurari de Viata and Alico Romania.