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Asiban ranks 3rd among insurers, with 186 million euros worth of business

Asiban insurance company ranks 3rd among insurance companies in Romania, with 185.8 million euros worth of business in 2007.

The insurer reported last year a 50 percent rise in business, higher than Asirom and BCR Insurance, daily Ziarul Financiar writes on Wednesday. Asirom ended last year with 180 million euros in business, the management said, and BCR Insurance reported subscribed gross premiums worth 174 million euros. Higher than Asiban there is Allianz-Tiriac, which subscribed premiums of 371 million euros, and Omniasig, with 250 million euros worth of business, says an estimate made starting from the growth pace in the first three quarters of 2007. In end 2006, Asiban was the fourth biggest player in the insurance market in Romania. The increase came from life insurance and credit insurance, general manager of Asiban Dumitru Ceraceanu told daily Ziarul Financiar. A boom of credits was reported in Dec. 2007, which was reflected in the insurance market, and the subscribed gross premiums that month rose 58 percent from the average of the rest of the year, Ceraceanu also said. From general insurance, the company subscribed last year gross premiums worth 152.4 million euros, up 43 percent from 2006. For life insurance, the rise in subscribed gross premiums stood at 92 percent, to 33.4 million euros. The year 2007 was the best for Asiban, with the rise of business higher than in any other year since it was set up. Car insurance accounts for the highest percentage, 57, in Asiban's portfolio. Asiban is currently being sold, its four owners are conducting negotiations with several international groups. Asiban is owned the Romanian Commercial Bank, the Romanian Bank for Development - Groupe Societe Generale, CEC Savings Bank and Transylvania Bank. Sursa: http://www.rompress.ro

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