The company’s turnover fell nearly 4% to RON47 million (over EUR10 million) in 2015.
Besides life insurance, Grawe also sells property insurance in Romania. The company wants to enter the auto market as well, by selling civil liability car insurance policies (RCA) and voluntary car insurance Casco.
The insurer has more than 135,000 clients on the Romanian market and the bulk of its revenue is generated by sales of life insurance policies. Property insurance accounts for nearly 15% of Grawe’s total portfolio.
Company representatives said tapping the auto insurance market is part of Austrian group Grawe’s strategy to include auto insurance in the portfolio of member companies.