V.I.G. companies in Romania

Omniasig non-life focuses on the property/casualty sector, in particular the motor insurance segment. Omniasig non-life has a highly developed distribution network comprised of more than 800 sales employees and more than 14,000 agents and brokers, as well as outstanding cooperative sales arrangements with leasing companies and banks. Omniasig non-life is number 1 in the Romanian market for motor liability insurance. Omniasig was awarded the title “Company of the Year” by the trade journal XPRIMM in 2009.

The Romanian life insurance company Omniasig Asigurari de Viata is being sold to the French insurance company AXA. Upon approval by the authorities, the takeover is to be concluded in the first half of 2010. This decision was based on a Vienna Insurance Group decision to concentrate on the development of BCR Asigurari de Viata and Asirom in this market segment.

Asirom has been a member of the Vienna Insurance Group family since 2007. Asirom is one of the leading insurance companies in Romania, operating in both the life and non-life segments of the Romanian insurance market. The company’s products are primarily sold by a strong salaried field sales force and numerous agents and brokers. Asirom is one of the top 5 insurance companies in Romania in the motor insurance segment.

Asirom also received numerous awards in 2009, including the title of “Most Reliable Agricultural Insurance Company” and other honours, such as being named the country’s best life insurance company by the trade journal XPRIMM.

The BCR Group has become an important part of the Vienna Insurance Group since the purchase of the Erste Group’s entire insurance operations in 2008. BCR non-life has been operating in the Romanian insurance market as a member of Banca Comercială Română since 2001. The company distributes its products through around 150 offices as well as a nationwide network of BCR branches providing access to a large number of customers. BCR non-life is constantly expanding its product range and improving its quality of service in order to further establish itself on the market and better serve its customers’ needs.

BCR life was established in October 2005 by Banca Comercială Română (BCR), and has offered innovative personal life insurance products and group life insurance since that time. BCR enjoys an excellent position in the Romanian market, which makes bank distribution profitable for BCR life. Distribution of traditional life insurance policies is particularly successful. In 2009, BCR life was named “the life insurance company of the year” in Romania by Piata Financiara, a Romanian financial market magazine. The trade journal Companii de asigurari de top also gave the company its “Award for the strongest life insurance company with a bancassurance structure”.