Last year, Generali underwrote premiums of RON462.7 million, from RON438.7 million in 2013. General insurance grew 8.5%, to RON384.4 million, while life insurance declined 7.2%, to RON78.3 million.
The insurer paid claims of RON215.9 million on general insurance, 11.7% lower on the year, and RON24.4 million on life insurance, 63.6% higher on the year. In total, claims decreased 7.3%, to RON240.3 million.
On the general insurance segment, voluntary car insurance policies accounted for the biggest share of the portfolio and generated premiums of RON168.1 million, from RON145.7 million 2013.
On the mandatory car insurance segment, underwritings grew to RON43.8 million in 2014, from RON39.96 million in 2013.
Insurance against fire and natural disasters rose 1.7% on the year, to RON134.81 million.
The net profit for 2014 will be divided between reserves and covering past years’ losses, according to the agenda of the shareholders’ meeting scheduled for April.
The Romanian insurer is part of Italian group Generali and is among the top ten insurers in Romania by underwritings.
At the end of last year, the company had a share capital of RON179.1 million and 91 offices. Its staff numbers decreased by 22.2% last year, to 520 employees.
Brokered insurance in Generali Romania’s portfolio decreased to 37.8% of the total, from 54.6%, insurance agents covered 30.2% from 38.5%, while banks doubled their quota from 3.1% in 2013 to 6.1% in 2014.