The decline in the volume of premiums on the general insurance segment was triggered by an economic situation unfavorable to the development of the auto market, as well as by the fierce competition on the insurance market regarding prices on the auto insurance segment, according to the press release.
Corporate insurance rose 18% on the year in the first half of 2012, while technical insurance, which accounts for nearly 40% of total corporate policies, saw a 55% increase.
Underwritten premiums on the life insurance segment reached RON45.9 million in the first half of 2012, of which, insurance policies concluded by companies for their employees saw a 44% increase and traditional life insurance rose 3%.
“The 3% increase in the volume of traditional life insurance shows that people are looking for protection, considering the economic uncertainties,” according to Generali Romania’s general manager, Adrian Marin.
Generali Romania is part of Dutch-based Generali PPF Holding, which operates in 14 countries in Central and Eastern Europe. (EUR1=RON4.5364)