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Generali Asigurari grew by 20% in 2009

1.3. 2010

Generali Asigurari subscribed a total gross written premiums volume of 501.5 mil. lei in 2009, registering a growth of 20%, compared to 2008 (417.5 mil. lei). The non-life insurances increased with 26%, up to 417.2 mil. lei (compared to 332.1 mil. lei in 2008), while the life insurance maintained approximately the same level from 2008 (only 1% decrease, from 85.4 mil. lei in 2008 to 84.4 mil. lei in 2009).

„Considering the fact that the insurance market was strongly affected by the economic turmoil, registering a modest growth in 2009, compared to the expectations and the history of the previous years, the fact that Generali obtained a general double figure growth is a confirmation that the strategy we adopted was the right one. We have applied and will keep on applying the same prudent subscribing policy, because we would rather have a healthy company with a solid future, which can offer safety to our clients”, stated Marie Kovarova, General Manager Generali Asigurari.

On the non-life segment, remarkable evolutions were registered on the liability
insurance line (+39%), on the insurance against fire and others natural forces (+18%), while inside this segment, the household insurance grew by 24%. A good evolution was also registered by the MTPL and Green Card insurance (+152 %)

On the life insurance segment, the group insurance registered a 18% growth, while the individual insurance were slightly affected by the unfavorable economic environment, the growth of the unemployment rate, the block in the personal and professional projects and the psychological crisis.

„Considering that the life insurance market dropped by 10% in the first 9 months of 2009, we think that maintaining the level of 2008 is a success. For 2010, one of the main objectives is to revitalize this segment, insufficiently developed in Romania, both from the point of view of the diversity of the product range and the point of view of the national distribution”, explained Kovarova.

„Although the market tendency is to look skeptically on 2010 because it seem to be, indeed, as difficult as 2009, we are trying to focus on the opportunities. The financial analysts place Romania, along with Ukraine and Poland, as the country with the highest development potential. We are convinced that Generali Asigurari will have a good year. We are prepared with a balanced product portfolio, a professional team and a strong brand, recognized on the market for its seriousness and services quality”, explained Kovarova. „For 2010, we are aiming for a healthy and profitable growth on all lines of business and a general evolution of the gross written premiums above the average of the insurance market, estimated at 4-5%”, Kovarova said.

By Cristina Albu