CertAsig diversifies its portfolio
CertAsig diversifies its portfolio: Property, Aviation and Engineering generated the largest policies in the first quarter
The largest policies underwritten by corporate insurer CertAsig in the first quarter of 2017 related to Property, Aviation and Engineering risks, as the company diversified both its product portfolio and its geographical presence.
In recent years, CertAsig has become the largest player in bond insurance in Romania and has expanded its activity to Bulgaria.
CertAsig : LARGEST UNDERWRITTEN POLICIES – Quarter I, 2017
|Client||Policy tyoe||Insured Sum EURO||Main risks||Country|
|Industrial manufacturer||Property||51.500.000||Fire, Explosion, Theft, Earthquake, Loss of profit||Bulgaria|
|Technical aviation||Third party liability||37.200.000||Damages to passengers and third parties||România|
|Logistics developer||Engineering||24.600.000||Constructors all risks||România|
|Textile manufacturer||Property||17.300.000||All risks, Loss of profit||Bulgaria|
|Ship owner||Marine||14.000.000||Protection & Indemnity||Turcia|
|Constructions – infrastructure||Engineering||16.000.000||Constructors all risks||Romania|
The largest policies underwritten by CertAsig in the first quarter of the year, by total sum insured, were related to specialised insurance products: property, liability and engineering.
These included property insurance for a well-known manufacturer of industrial components based in Bulgaria, third party liability insurance for a Romanian technical aviation company, an engineering insurance policy underwritten for one of the biggest logistics and warehousing companies in Romania covering one of its ongoing building and development sites, a property insurance policy for a textile manufacturer in Bulgaria, a maritime insurance for a ship owner in Turkey, as well as another engineering insurance policy for an infrastructure construction company in Romania.
“We only insure corporate clients, of all sizes ranging from single employee SMEs to multi-national corporates active in several countries. Our clients work in many diverse industries, but our main segments include transport, logistics, manufacturing & storage, IT and construction.
On the corporate insurance market, we see 2017 as a year of increased maturity for companies, in terms of understanding what insurance can do for their businesses: aside from providing protection from various risks, specialised insurance products can also enable companies to be more competitive in their respective markets”, adds James Grindley, CertAsig’s CEO.
The CertAsig portfolio is secured by AA and A rated reinsurance agreements underwritten with some of the strongest names in reinsurance including Swiss Re, Hannover Re, Partner Re and Lloyd’s.
CertAsig’s strategy is to exclusively target companies, for which it develops specialised insurance products, via insurance brokers. Over 6.000 companies insure their factories, buildings, merchandise, employees, contracts and future business revenues with CertAsig, 98% of clients working through their insurance brokers.
With gross written premiums amounting to 14 million euros in 2016, CertAsig has almost 15 years of underwriting and claims-paying experience offering insurance products to its corporate clients in Romania and other CEE countries where it has operations.
CertAsig is a Romanian insurance company, whose majority shareholder is Royalton Capital Investors II, a private equity investment fund based in Luxemburg, active in Romania, Poland, Slovakia, Turkey, Solvenia, Lithuania and the Czech Republic. The main investors of Royalton Capital Investors II include Alpha Associates, the European Bank for Reconstruction and Development (EBRD) and the European Investment Fund (EIF).
With branches in Bucuresti, Constanta, Cluj, Suceava, Ploiesti, Brasov and Ramnicu Valcea, a liaison office in Istanbul (Turkey) and a branch in Sofia (Bulgaria), CertAsig has a team of over 85 insurance professionals.
Cristina Hlinschi – Sense Marketing: 0745 108 852
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