CERTASIG increases its share capital with 2.5 million Euros

Bucharest, April 22nd, 2009 – CertAsig Insurance & Reinsurance has increased its share capital with 2.5 million Euros. The company’s new share capital will reach 62,398,654 RON (aproximately 14.5 million Euros ), after the fulfillment of all procedures required by the law.

Bucharest, April 22nd, 2009 – CertAsig Insurance & Reinsurance has increased its share capital with 2.5 million Euros. The company’s new share capital will reach 62,398,654 RON (aproximately 14.5 million Euros ), after the fulfillment of all procedures required by the law.

“The current capital increase has been made within the framework of the strategy our shareholders have committed to, when acquiring the majority shareholding, at the end of 2007”, said Radu Frincu, the company’s CEO. “In the last year, CertAsig has experienced accelerated business growth and this capital increase will consolidate the operational support of our growing underwriting volume and will contribute to the safe keeping of the company’s financial balance”, Frincu also added.

CertAsig is a casualty – property insurance company specialized in niche insurance, including marine and aviation. Its portfolio includes, amongst others, ocean going ships and river craft. CertAsig’s strategy is to raise the standard of client service and especially claims handling for all its clients. CertAsig has a strong team of professionals and the capacity to assist clients and their brokers in selecting the most appropriate insurance cover.