Iulius Alin BUCSA becomes the new President of ASTRA Asigurari. Alexander ADAMESCU returns to the Supervisory Council

26 September 2012 —
alin_bucsa3Iulius Alin BUCSA will join ASTRA Asigurari as a President, the naming being currently subjected to the regulatory approval of ISC - The Romanian Insurance Supervisory Commission, the insurance company announced on September 19th. Alexander ADAMESCU, who was named President on January 1st 2012, after the backdown of Radu MUSTATEA, will return to the insurer's Supervisory Council.

"I am delighted to join ASTRA Asigurari, the most dynamic insurance company in Romania", Iulius Alin BUCSA declared. Moreover, Alexander ADAMESCU expressed his strong belief that, together with the new President, the company will obtain excellent results.

For the past 3 years, Iulius Alin BUCSA, aged 39, has been the General Director - CEO of EUROINS Romania. Before that, he occupied top-management positions at ASIROM and BCR Asigurari. Iulius Alin BUCSA graduated from the Bucharest University of Economic Studies (ASE) and has a master's degree in international transactions.

At the end of 2011, ASTRA was the leader of the Romanian market by underwritings, but after the first half of 2012, the company ranked second, being surpassed by OMNIASIG (the company that resulted from the merger between BCR Asigurari and the former OMNIASIG).

ASTRA ended the first half of the year with a net profit of RON 31.9 million, 60% below the RON 80.2 million announced at the end of June 2012, and with RON 516.7 million (EUR 118 million) underwritings, down 7.5% year-on-year.

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