Omniasig registered 11 percent increase in gross written premiums in 2019

Omniasig Vienna Insurance Group continued its development strategy in 2019, registering an increase of approximately 11% of the gross written premiums, compared to the previous year.

In 2019, the company’s total value of the gross written premiums exceeded the amount of 1.3 billion lei while the registered gross profit, according to IFRS reporting standards for consolidation purpose, was over 45 million lei. The total amount of the claims paid by the company in the previous year was slightly over the 820 million lei. 

“In 2019 we were still focused mainly on supporting non-motor insurance segments, in line with the company’s long-term strategy of sustainable growth. The positive results and the stable evolution from 2019 underline that our strategy provides the expected effects (…) For 2020, we have an integrated action plan, which will allow us to adapt to the new economic context generated by the coronavirus crisis, while preserving our ascending development trend,” said Mihai Tecau, president of the managing board Omniasig Vienna Insurance Group.

In line with the company’s strategy regarding the development of the non-motor insurance lines, an ascending trend was also observed in the case of Property segment (Fire and Allied Perils line), where the total volume of the gross written premiums for 2019 increased by almost 8%, compared to the previous year.

The number of complaints registered uniquely per claimant and per case by OMNIASIG Vienna Insurance Group in 2019 was 725, while the number of complaints solved favorably was 115, the rest being unfounded. When it comes to the number of insurance policies issued by the company during 2019 and which have not been canceled, the number of petitions registered uniquely per claimant and per case represents only 0.05% of them. At the same time, compared to the number of claim files ascertained in 2019, the number of complaints registered uniquely per claimant and per case represents 0.41% of them.