In the frame of the economic crunch, during the first half of 2009, ASTRA Asigurări accomplished an increase of its business by 41%. The company with preponderantly domestic share capital and shareholding is placed 3rd in the insurance field in Romania.

Despite of the economic crunch, ASTRA Asigurări is the only top insurer that managed a growth that boosted the company up to the 3rd place in the market, with a 9% share.

ASTRA Asigurări entered the Romanian insurance market as a strong and stable player even since the year 1991, when it detached from the former state company ADAS, thus benefiting of a large experience on the national and international insurance market and becoming the second private insurance company in Romania.

ASTRA Asigurări is a leader on the market of maritime and aviation insurances, a player of tradition on the MTPL segment, an important insurer for non-life insurance market. The company occupies the third place for general insurance and, starting 2009, it became a market leader for property insurance.

ASTRA Asigurări is included among the most capitalized companies on the domestic insurance market, having a share capital with a value of EUR 55 million. With a network which numbers over 250 headquarters disposed all over the country, ASTRA Asigurări offers to its customers a complete territorial coverage. Lately, ASTRA Asigurări has implemented new sale and product strategies, having as main objectives the modernization and the flexibility of the more than 60 types of general, life and health insurance in the portfolio.

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ASTRA climbs the podium

ASTRA Asigurări imposed itself from the very beginning on the profile market, becoming one of the main companies as business figures. The company improved its performances every year, entering Top 3 of the Romanian companies on the profile market in 2009.

The volume of the total gross written premiums of ASTRA Asigurări at the end of the August 2009 amounts to more than EUR 131 million, out of which EUR 129.76 million represents the volume of gross written premiums on non-life insurance, increasing by 25% as compared with the figures recorded by the end of August 2008.

The company continued to develop its business property lines in 2009 by promoting the products: CasAsigura and CasAsiguraPlus, thus registering significant growths.

However, the most important growths were registered for buildings and assets - 253% - and a growth of 45% for MTPL.

The insurer registered, during the first half of 2009, a profit of EUR 814,556, maintaining the ascendant trend of the first quarter of 2009.

ASTRA Asigurări proposes itself as an objective to finish the financial exercise of the current year with a profit of RON 9,171 thousand and an income from the gross written premiums of EUR 183.50 million, increasing by 19% compared to 2008.

As an acknowledgment of the status of market leader of maritime and aviation insurance, the company was awarded with the Prize “The greatest insurer, RC insurance class of air and naval transportations”, at the first edition of the Gala of Prizes FINMEDIA – Top Insurance Companies. Also, the company received the Prize “The product of the year 2008 at General Insurance”, for the product of assistance of the lessee, a distinction granted by PRIMM - Insurance & Pensions Magazine at The Romanian Insurance Market Awards Gala.

Investments of more than EUR 1 million in the IT system

ASTRA Asigurări is the initiator of an unique innovating project on the Romanian insurance market. The company launched at the end of July the system of electronic underwriting and portfolio management. It may be accessed by the agencies and brokers partners of the company. At the present moment, the entire sale force in Bucharest is endowed with a mobile laptop connected to internet, a printer and a device for generating electronic signatures, the time dedicated for issuing the insurance policies decreasing thus considerably. Up to the present, the company has invested over EUR 1 million in software and equipments. The project is at the present moment in the stage of extension all over the country.

Focus on voluntary business lines

The company set itself as immediate strategic objectives the continuation of development of the voluntary business lines, launching new life insurance, health and property products, as well as the development of those already existent in the portfolio, the development of partnerships in a bancassurance regime and accessing of new sale channels.

Also, ASTRA set as objectives the maintenance of the position in the top of the first three companies on the profile market, the consolidation of its position as leader on the segments of aviation, maritime and property insurance, the professionalization of the sales network and increasing the quality of services provided to the insurants.

Background information

ASTRA Asigurări has in its portfolio important customers such as: TAROM, BLUE AIR, ROMAVIA, the Superior School of Civil Aviation, ROMAERO, BANEASA Airport, KOGALNICEANU Constanta Airport, OTOPENI Airport, CEC, Constanta Shipping, PETROMIN SA, the Naval Dockyard Orsova SA, the Group of Rescue on the Sea, Constanta Naval Dockyard, ARRADOS Shipping, INTERCONTINENTAL Hotel, WTC Bucharest, ROMSTRADE, ANCOM, the Ministry of National Defense, the Ministry of Foreign Affairs, COMPET Ploiesti, the Service of Ambulance Bucharest.

As well, ASTRA Asigurări is a member of UNSAR (the National Union of the Insurance Companies in Romania) and a member of the Management Committee of BAAR, the Office of Motor Insurers in Romania (a professional association, member of the Council of Offices, formed of all the insurance companies in Romania authorized to practice the mandatory MTPL insurance and, as the case may be, empowered to issue documents of motor “Green Card” insurance). The insurer is also a member of the Management Committee of the Fund of Protection of the Street’s Victims and a founding member of the Pool of Insurance against Disasters (PAID), which will issue the mandatory household insurance policies. The mandatory policies which will be issued by PAID are meant to insure the dwellings in Romania against earthquakes, land sliding or floods, according to the legislation in force.

ASTRA Asigurări holds a participation of 15% of the package of shares of PAID, Mr. Radu MUSTĂŢEA, the President of the Board of ASTRA being the representative of the Group of Initiative regarding the establishment of PAID. Mr. MUSTĂŢEA also holds the position of Vicepresident of PAID.