OMNIASIG posted gross written premiums of more than 1.1 billion RON in the first half of 2023

OMNIASIG Vienna Insurance Group reported gross written premiums of more than 1.1 billion RON in the first semester, with 5 percent more compared to the same period in 2022. The total amount of paid claims in the first half of the year was more than 560 million RON, this amount having also increased compared to the previous interval.

“For us, the first six months of the year were marked by an increased focus on several major directions: keeping the client at the forefront of our business, our constant involvement in the community, through multiple volunteering campaigns and activities, adapting to the macroeconomic and geopolitical context, as well as and the focus on innovation and sustainability. The active involvement in supporting financial education, an important vector of the insurance market development, as well as supporting customers in choosing the best products and services, adapted to their needs, are still our priority goals. The results achieved up to now, especially for the Health insurance, Property and Motor Hull lines are due to the implementation of a solid and responsible strategy, in order to optimally respond to the expectations of all stakeholders. We continue to pay a lot of attention to protecting and supporting the communities in which we operate and to the ESG (Environment, Social, Governance) principles, because a business cannot be profitable if it does not operate in a healthy and durable ecosystem,” said Mihai Tecău, President of the Managing Board, OMNIASIG Vienna Insurance Group.

In the first semester of 2023, the Property segment (Fire and Allied Perils) grew by more than 15 percent, registering premiums amounting to approx. 174 million RON. This line maintains its growth trend manifested until now, built on the background of a growing awareness both from the legal entities, on the corporate segment, as well as from the physical persons, regarding the Household Insurances. They realise that the risks are increasingly complex and frequent and can threaten a business, regardless of its size, as well as a home.

The Health Insurance segment had one of the most important increases, of approx. 40 percent, with a value of gross written premiums of over 45 million RON, in the January–June 2023 interval.

Motor insurances, Motor Hull and MTPL, recorded an aggregated value of gross written premiums, for both lines, of over 770 million lei. The value of claims paid on the two lines in the first semester, cumulatively, increased compared to the previous year, the total being almost 500 million RON. The company maintained its prudent underwriting policy on the motor insurances lines, the facultative insurances area advancing by approx. 15 percent compared to the same period of 2022.

An increase was also recorded on the General Civil Liability Insurance line. The increase, compared to the same period of last year, was over 25 percent, and the written premiums reached a value of almost 40 million RON.

The Travel Insurances line has also recorded steady growth, with a gross written premium volume of over 11 million RON, almost 40 percent more than in the same period last year.