In January-June 2020, the gross premiums underwritten via brokers saw a 149% increase on the life insurance segment, compared with the same period in 2019. Sales for natural persons were fueled by traditional insurance and loan protection insurance, while on the corporate segment, companied opted for insurance policies combining the benefits of health insurance with the protection of employee life insurance, company data showed Thursday.
On the general insurance segment, companies’ appetite for health insurance reflected directly in the volume of premiums underwritten in the first six months of 2020. Also, voluntary property insurance (individual and attached to mortgage loans) contributed to a 97% surge in total premiums underwritten on this business segment during the analysed period compared to the first half of 2019.
“The results reported for the first half of 2020, even in the context of the COVID-19 pandemic, confirm the strategic path proposed: to develop sustainable and healthy partnerships, with brokers and banks, as well as with partners – services and experience providers – via unexpected associations. To all these, we add digital innovation, an area in which we took significant steps by recently unveiling the first mobile application on the local market,” stated Anita Nitulescu, CEO of Eurolife FFH.
The underwritten gross premiums also kept the upward trend on the bancassurance segment, with life insurance seeing a 295% surge in premiums compared to the level reported in the first half of 2019, an evolution triggered mostly by loan protection insurance. On the general insurance segment, property insurance policies attached to mortgage loans and policies for small and medium-sized enterprises (SMEs) contributed to a 97% surge in premiums underwritten in the first half of 2020.
The micro-insurance segment, launched in partnership with other services companies present on the market, saw a 61% increase in gross premiums underwritten on the ticket insurance segment, with clients opting for the advantage of fully recovering the amount paid in case of non-participation in an event due to unforeseen circumstances.
Also, the company reported a 44% plunge in online sales, respectively, travel insurance, compared with the same period in 2019.