OMNIASIG Vienna Insurance Group ended 2023 with an increase in gross written premiums of around 12 percent compared to 2022, to a total of 2.4 billion RON.
At the same time, the total amount of compensations paid was increasing compared to the previous year, reaching a value of approx. 1.2 billion RON.
“The year 2023 brought many challenges for the insurance market in Romania, and our strategic approach was based on organic and balanced growth. For us, last year was about getting closer to customers, understanding, and addressing their needs and, above all, adapting the company to new trends. We went through a process of re-positioning the brand, which resonates more with the new generations, we implemented digital flows through which we streamlined the interaction of customers and partners with OMNIASIG, constantly improving our products and services. At the same time, in 2023, we defined our ESG (Environment, Social, Governance) strategy even more clearly, through which we show our intention to align with sustainability standards. We continued our efforts also in the field of education and financial education, by organizing various projects with an impact on disadvantaged communities. In 2023, we consolidated our strategy for a sustainable, reliable business that meets the current needs of the market, committing ourselves in the following years to implement measures that will optimize important aspects of our activity,” said Mihai Tecău, President Directorate OMNIASIG Vienna Insurance Group.
The PROPERTY line (fire and natural calamity insurance) had one of the most important increases, of over 20 percent in 2023 compared to the previous year, with underwritings of approx. 370 million RON.
The HEALTH insurance line continued to grow in 2023, reaching a value of gross written premiums of approx. 80 million RON, representing an increase of over 10 percent.
Car insurance, CASCO and RCA, recorded an aggregate increase in gross written premiums of approx. 10 percent compared to the year 2022, their value for the year 2023 amounting to approx. 1.6 billion RON. The amount of compensation paid on the two lines in this interval, cumulatively, increased by more than 8 percent, reaching approx. 1 billion RON.
