Romanian insurer Astra Asigurari won a bid to cover the fleet of Romanian airline company Tarom, defeating Allianz-Tiriac Asigurari, BCR Asigurari and Omniasig over the 12-month contract. Astra Asigurari will provide full insurance for civilian flight planes and spare parts, passangers, luggage, goods, and postal services.
Astra representatives said the company negotiated a considerable cut compared to the previous year so that the costs for the national fleet be minimal. They did not specify the value of the contract but last year Tarom paid insurer Allianz-Tiriac Asigurari 13.7 million RON to cover the fleet.
The account is backed-up by GAUM (Global Aerospace Underwriting Managers), a pool formed of National Indemnity/ Berkshire Hathaway, Munich Re/Great Lakes, Tokio Marine, Mitsui Sumitomo.