News archive

Generali Zavarovalnica increased gross written premium in car segment by 25 % in 2009

13.5. 2010

Despite the economic slowdown, the insurance company Generali reported last year a 19,2 % growth of gross written premium in the non-life segment and significant increase both in new sales and in market share. This trend of growth continues in 2010 as well. Due to this positive development, expected by Generali also for this year, General Assembly of Generali Zavarovalnica approved the increase in the share capital for two million euro to 38 mln €.

In the year 2009 Generali Zavarovalnica earned 66,4 mio EUR of total gross written premium (nonlife 50,4 mio EUR, life 16 mio EUR), i.e. 8 million euro more than in 2008. In the last years Generali noticed a special strong growth in the car insurance segment. Compared to the year 2008 Generali increased gross written premium in MTPL insurance (AO) by 19,7 % and in CASCO by 36,4 %. The mentioned growth brought to Generali 5,9 % of market share (in 2008 it was 5 %) in motor insurance. The growth of GWP was obtained keeping a good technical profitability confirmed by a Net Combined Ratio equal to 96%.

Because of quick growth, the share capital in Slovene insurance company Generali will be increased by the parent Generali PPF Holding for two millions euro. Total share capital of the company will then reach 38 million euro. »We have to point out that we operated positively in year 2009, the capital suitability and liquidity of the insurance fulfilled all legal requirements. Increase of the share capital was carried out according to the business plan, its main purpose is to ensure additional capital requirements, which is needed because of excellent sales results in the first three months in the year 2010 and expected high growth of the rest of 2010«, pointed out Gregor Pilgram, CEO of Generali Zavarovalnica.

In connection to the promotion activity this year, which lasted from January 15th till March 15th, Generali prepared a game with wide response and with the main prize – 10.000 euro. The game showed excellent results and allowed Generali to acquire 10.000 new clients in car insurance.

Generali rewarded safe drivers also in its ordinary offer. Among others Generali gives back already 10 % premium of casco insurance, offers up to 20 % discount on MTPL (AO and AO +) for driving experience, and many additional benefits, that allow safe drivers to insure their cars much cheaper. Generali offers free informative calculation through www.generali.si, free phone number 080 70 77, Generali insurance agents and the bank branches of SKB and Banka Koper.

By Marjana Bastar