Omniasig turnover slips 17%, profit halves -
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News » March, 2011 » 21 March 2011

Omniasig turnover slips 17%, profit halves
21.03.2011, 23:44 | Insurance | 1199 views

Omniasig, the third largest insurer on the market, controlled by Austria's Vienna Insurance, last year derived gross income worth 21.8m lei (5.2m euros), down 58% from 2009, according to preliminary figures. The result is in line with IFRS.

The profit decline comes as the gross premiums underwritten by the company shrank by 17% to 916m lei last year (218m euros), amid the falling revenues from car policy sales.

Omniasig operates only on the general insurance market, which contracted by 7.5% in 2010.


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