CERTASIG has entered a new stage of growth by recording during the first half of the year a spectacular nominal increase of 255%. Established in 2003, the company experienced different business phases and initiatives to achieve the most balanced structure to enhance its future development.

CERTASIG underwrote, during the first half of the current year, gross premiums that amounted to RON 18.1 million, which represents, in European currency, EUR 4.3 million (a spectacular nominal increase of 255%).

The registered result led CERTASIG among the Top 20 insurance companies on the non-life insurance segment (the 18th place), while at the end of 2008, the company had ranked 23rd in the same hierarchy, according to the Specialty Review INSURANCE Profile.

The results provided by the company to INSURANCE Profile show that, during the first six months of the current year, Motor Hull insurance represents more than 54% (approximately EUR 2.3 million) of the underwritings of the company, whereas fire and allied perils insurance represents a little less than 9% (EUR 370 thousand) - highest nominal growth in this market segment - 495%.

Other insurance classes that are relevant for the total underwritings of CERTASIG are: rail transport means, aircraft and ships insurance (added up) - they represent more than 25% of the total business, general liability insurance, with about 4%, which generated underwritings of EUR 180 thousand, accidents and illness insurance, with a share in the company's portfolio of 2% and with underwritings of approximately EUR 80 thousand, and goods in transit insurance, with 1.5 percentage points.

Meanwhile, the total value of approved and paid claims of CERTASIG in the first half of 2009 amounted to RON 4.8 million (EUR 1.1 million), out of which the sum of EUR 790 thousand was correspondent to Motor Hull insurance policies.

Also, CERTASIG owns a share of 5.5% of the share capital of PAID - the Pool of Insurance against Disasters established in Romania. The share represents EUR 4.55 million.

History

CERTASIG Insurance and Reinsurance Company has entered a new stage of growth. Established in 2003, the company experienced different business phases and initiatives to achieve the most balanced structure to enhance its future development. At the end of 2007, the majority of shareholding was acquired by ROYALTON Capital Investors II, a European private equity fund, specializing in the development of businesses in new European Union Member States. Thus, CERTASIG increased its share capital to more than EUR 17 million and became one of the best capitalized insurance companies in Romania.

The ROYALTON Capital Investors II fund is supported, amongst others, by the European Bank for Reconstruction and Development (EBRD) and by the European Investment Fund (EIF) – each institution contributing to the fund’s capital.

CERTASIG Holdings is owned by ROYALTON Capital Investors – 92,31% and other shareholders – 7.69%.

ROYALTON Partners was formed in 1996. The history of the management team goes back to 1990, when the three partners started working together at CESKOSLOVENSKA Obchodni Banka in Prague. The team built their track record by managing hybrid equity funds in the region during the early 1990s. At the peak of their early investment activities, they managed assets in excess of USD 150 million. ROYALTON Partners advises

ROYALTON Capital Investors II ("RCI II"), a private equity fund established in 2007, which currently holds two investments in Romania and the Czech Republic.

ROYALTON Partners further advises ROYALTON Capital Investors ("RCI"). RCI is a USD 94 million private equity fund, which closed in 1999 and which acquired six investments in the new EU countries.

Reinsurance?

CERTASIG clients can take comfort from the strength of the company’s Reinsurance Programs which underpin its underwriting activities. CERTASIG reinsurance partners, including LLOYD’S Syndicates, SCOR and HANNOVER Re, offer not only first class financial security but also expertise in offering innovative insurance solutions. AON Re CEE handles the company’s reinsurance programs.

CERTASIG became a member of UNSAR

The insurance company became, in late April this year, a member
of UNSAR - The National Association of Insurance and Reinsurance
Companies of Romania. UNSAR has proven in time its
efficiency in promoting the interests of the Romanian insurance
companies. Also, UNSAR represents the expression of the cohesion of
insurance companies, beyond the competition, said Radu FRÎNCU,
General Manager of CERTASIG, regarding the reasons that the
decision of adherance was based on. We believe in a unified communication
of our message and we believe that, adhering to UNSAR,
we can actively participate in projects which will have the finality of
increased efficiency for the Romanian insurance market and, implicitly,
the development of our company, along with the other players
on the market, the leader of the insurer continued.

A new player on the health insurance market

Nigel WILLIAMS, Chairman of the Board of CERTASIG recently
stated that by the end of this year, the company will enter on the
health insurance market. Thus, the company plans to launch a
new product, as there are signed some partnerships with health
care providers.