The figures reflect the results of the former Ardaf, which absorbed Generali Asigurari and changed its name to Generali Romania in September 2011.
In 2010, Generali Asigurari posted net profits of RON20.89 million and Ardaf posted profits of RON266,579.
Generali Romania underwrote life insurance premiums worth RON93.3 million, up 2.4% from 2010, but general insurance premiums dropped 26.1% to RON418.1 million. The decrease was due to poorer results on the CASCO and RCA auto insurance segments. Underwritten CASCO premiums amounted to RON155.4 million, while RCA premiums were worth RON84.6 million.
In 2011, the insurer performed well on the voluntary and mandatory home insurance segments. The company sealed around 300,000 voluntary insurance policies, more than double compared with 2010, and 85,187 mandatory policies. Underwritten premiums on the voluntary segment were worth RON73 million, 40% more than in 2010. On the natural disaster insurance segment, Generali Romania underwrote premiums worth RON109.8 million, up from RON87.9 million in 2010.
The company paid RON411.5 million in damage claims, down 15.6% on the year, including RON401.5 million for general insurance, from RON475.5 million in 2010.
At the end of 2011, the company had 227 offices and 944 employees.
Generali Romania’s capital of RON133.09 million is controlled by Generali Holding Vienna AG – 66.24%, Iberian Structured Investment I BV – 20.7564% and Generali PPF Holding BV, ORG Unit Prague CZE – 12.88%.
In 2012, the insurer expects underwritten premiums of RON549 million, including RON91.3 million from the life insurance segment, and losses of RON15.9 million. (EUR1=RON4.3608)