Change of strategy for CertAsig in the second half of the year

Press release

Bucharest, May 17th 2019

Change of strategy for CertAsig in the second half of the year

 

  • CertAsig registered in 2018 gross written premiums worth 57.7 million lei and paid claims up to the amount of 64.3 million lei;
  • The company registered a 5% increase in gross written premiums in the first 3 months of this year and booked a positive result in P&L;
  • CertAsig’s focus is developing it’s liability, bonds, property and engineering portfolios;
  • Starting July 2019, the marine classes will be serviced with the support of another group company.

The last 2 years were challenging for the insurance industry as atypical and adverse natural events increased volatility of the portfolios.

Not even CertAsig remained outside of this phenomenon, the last two winter seasons, for example, affected in particular the results of the marine insurance segment.

CertAsig paid last year claims worth 64.3 million lei, from which most were indemnisations paid for the marine insurance segment.

Despite the faced challenges, in the first quarter of this year GWP increased 5% comparing to the same period last year, reaching 15.2 million lei and at the same time, spendings decreased with 9% versus the same period of 2018.

Benefitting from the support of our shareholders, who have contributed with 18 million lei to our capital during the past year, and backing from strong reinsurers, we remain firmly committed to our customers and will continue to offer innovative products and services to the highest standards,” says Maria Rangelova, CEO, CertAsig. In order to ensure company’s long term stability, CertAsig has revised its development strategy for the next period. The company’s activity will therefore focus on liability, bonds, property and engineering insurance, aiming at increasing portfolios on these segments both in Romania and Bulgaria. Also, as of July this year, marine insurance will no longer be part of the company’s product offer and will be serviced with the support of another group company.

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Contact:

Carmen STOIAN

0735.316.570

comunicare@certasig.ro

 

About CertAsig:

 CertAsig is majority owned by Royalton Capital Investors II, a European investment fund specialized in the acquisition and development of service-oriented companies in the European Union, within Central and Eastern Europe.

 CertAsig is currently activ in Romania and Bulgaria, but it is also present on the Turkish and Czech markets, being recognized for its innovative and dynamic approach to corporate customers.

 

 

 

 

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