Omniasig insurance company, controlled by Austrian Vienna Insurance Group (VIG), registered a slight decrease of gross written premiums of 0.5 percent in the first six months of 2016, amounting at RON 455.49 million, a level almost equal to the one from the same period of 2015 (RON 457.66 million), as a press release informs on Monday.
“After 2015, which was for us a year of significant growth, we want to consolidate everything we have achieved and further insure the development of our company. We continue to pay a special attention to the efficient management of our portfolio, to the increase of the non-motor lines’ weight, ensuring quality services for our customers, as well as to the efficient management of administrative costs. Our strategic objectives remain, in 2016 as well, maintaining a constant healthy growth and profitability, together with developing strong relationships, based on trust, with our customers and partners,” Mihai Tecau, President of the Managing Board Omniasig VIG stated.
Motor insurance lines increased in H1 of 2016, reaching a total gross written premium value of RON 307.65 million, the weights within the motor portfolio being now reversed (decrease of 26 percent on the MTPL line and increase of 19.56 percent on Motor Hull, compared to the same period last year):
As regards MTPL segment, the gross written premiums reached RON 134.55 million, while Motor Hull domain, the gross written premiums are in value of RON 173.10 million. Thus, total claims paid on these segments amounted to RON 246.03 million, cumulated.
The Property segment (Fire and Allied Perils) registered in this first semester a gross written premium value of RON 91.31 million, an amount being 9.31 percent higher than in the same period of 2015.
The number of complaints registered per unique claimant and per single case received by Omniasig in the first six months of 2016 recorded a decrease of 36.18 percent, compared to the same period of last year, reaching 254. Related to the number of insurance contracts (policies) valid at the end of the first semester, the number of complaints received in this period represents only 0.03 percent of them.
According to a Financial Supervisory Authority (ASF) analysis at end-August, Omniasig is the company that pays fastest the MTPL claims in Romania, with the average payment duration of 6 days/file. Also, according to the same ASF data for the second semester of 2015, at Omniasig, a percentage of 88.90 percent of the MTPL claim files are paid within the legal period of 10 days or less.
At the same time, according to the company’s internal analyzes, on Motor Hull, 95 percent of all the claim files opened by Omniasig are paid in less than 5 days after submitting the last document in the file.
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