INSURANCE

The Competition Council (CC) has announced on Tuesday it has fined nine insurance companies and the National Union of Insurance and Reinsurance Companies in Romania (UNSAR) by RON 246,739,195 (approx. EUR 53 million) for violating the national and European regulations ...

The shareholders of OTP Leasing Romania, OTP Bank Romania and Merkantil Bank Hungary, approved a capital increase of 5.52 million lei. The capital increase was made through additional cash contribution, fully paid in RON in the company’s main account opened ...

Centrul European de Despăgubiri (CEDE), a Polish company specialized in helping victims of road accidents receive due compensation and benefits from insurance companies, is estimating that in 2018 it will beat the results from the previous year as it strengthens ...

Watford Insurance Company Europe (Watford Insurance), has announced the launch of its operations in Romania on Wednesday. Watford Insurance is a 100%-owned subsidiary of Watford Re Ltd., a global reinsurance and insurance company. Watford Group has a capitalization of $1.2 ...

OMNIASIG Vienna Insurance Group announced the registered gross written premiums for the first half of 2018 had increased with more than 9% compared to the same period of 2017, thus consolidating its position on the Romanian general insurance market, a ...

Vienna Insurance Group’s (VIG) result (before taxes) in the first half of 2018 increased by +5.5 percent compared to the previous year to EUR 232.7 million, the group announced on Tuesday. The increase was primarily due to improvements in the ...

Vienna Insurance Group (VIG)’s large CEE markets in the Czech Republic, Poland and Romania were the driving engine for growth in premiums and profit (before taxes) in the first quarter of 2018, according to a press release. “We have succeeded ...

The optional pension funds’s assets reached almost RON 1,872 billion on March 31, 2018, up by 16.39 percent year-on-year, according to data released by the Financial Supervisory Authority (ASF). The state bonds had the highest weight within the assets, worth ...

Minister of Public Finance, Eugen Teodorovici, said on Tuesday that Romanians can opt between Pension Pillar I and Pillar II, adding that the Government will discuss this issue. Finance Minister Eugen Teodorovici has assured that the state can efficiently manage ...

Omniasig’s total volume of gross written premiums was RON 1.06 billion last year, 2.24 percent below the level registered in 2016. According to a press release, this decrease is mainly due to the diminishing of the gross written premiums on ...