Eureko’s losses from the life insurance segment dropped by 18.8% compared with 2010, to RON10.04 million, after cutting operating costs.
On the general insurance segment, Eureko’s revenue increased 9.8%, to RON11.1 million, with health insurance policies accounting for RON10.47 million. The company reported profit of RON3.31 million on this segment, from a loss of RON6.98 million the previous year.
The result means Eureko remained the leader of the health insurance market, although competition is becoming stiffer as it draws more companies. The market grew by a hefty 45% in 2011 and Eureko’s share decreased from 33% to 24%, the report says.
Last year, Eureko’s losses dropped by 72%, to RON5.66 million. The company has posted losses year after year between 2001 and 2011, according to the data of insurance regulator CSA. (EUR1=RON4.5364)