Local insurance company Asirom posted EUR 1.2 million in profit last year after posting EUR 30 million in losses in the previous years. “We turned to profit because we analyzed the business model,we were more careful with the damage liquidation process and we chose to avoid dumping. We have also centralized all administrative activities in Bucharest,” said Boris Schneider, Asirom's general manager.

Asirom, which is controlled by Vienna Insurance Group, expects to post a profit this year too. Vienna Insurance Group also owns BCR Asigurari, BCR Viata and Omniasig.