Omniasig sells gross premiums of approximately 1.7 bn RON in Q3 2023
Omniasig Vienna Insurance Group sold gross premiums of approximately 1.7 billion RON in the first three quarters of 2023, a value that represents an increase of approximately 10% compared to the same period in 2022, according to a company release, told Agerpres.
The total value of the compensations paid in this interval was approximately 840 million RON.
"The year 2023 proved to be an intense year, full of changes and unforeseen events, which tested the adaptability of insurance companies. Omniasig continued to demonstrate during this period that it is a company that can adapt to changes, stable, that follows a long-term strategy in Romania and is always with its clients and partners. The positive results recorded on most lines of insurance are proof of this. In the first nine months of the year, Property insurance registered an increase of approximately 20 %, which indicates an increasing awareness of the need for protection through insurance, both among corporate clients and individuals. Thus, in a context that is in continuous change, we will continue to follow the trends, to understand the needs of our clients and to adapt our products and services accordingly. We are pursuing sustainable growth, both in terms of financial performance and our impact on the environment and society," said Mihai Tecau, CEO of Omniasig Vienna Insurance Group.
The Property insurance line (fire and natural disaster insurance) grew by about 20% in the first three quarters of 2023, compared to the same period last year, with subscriptions of about 270 million RON.
Health insurance continued to grow significantly in the first three quarters of 2023, reaching a value of sold premiums of approximately 65 million RON, which is approximately 30% more compared to the same period of the previous year.
Car insurance, mandatory and optional, registered an aggregate increase in gross premiums, for both lines, of approximately 4.5% compared to the first three quarters of 2022, their value amounting to approximately 1.2 billion RON. The value of compensations paid on the two lines in this interval, cumulatively, increased by over 8%, reaching over 730 million RON.
Vienna Insurance Group (VIG) is the leading insurance group in the entire Central and Eastern European (CEE) region. More than 50 insurance companies and pension funds from 30 countries are part of this group with a long tradition, strong brands and a close relationship with clients. Around 29,000 employees of VIG meet the daily needs of around 28 million customers.
VIG shares have been listed on the Vienna Stock Exchange since 1994, on the Prague Stock Exchange since 2008 and on the Budapest Stock Exchange since 2022. The company is rated A+ with a stable outlook by the renowned international rating agency Standard & Poor's.
VIG works closely with Erste Group, the largest retail bank in Central and Eastern Europe.
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