Grawe Executive Board Chairman, Paul Swoboda, said any business line can bring profit, provided it is well-managed. He added that Grawe’s medium-term policy is to have a balanced portfolio on all business lines – life, property and auto.
In December 2015, Grawe Romania Asigurare submitted at the Financial Supervisory Authority (ASF) the files needed to get its license for two categories of insurance, namely, insurance for terrestrial means of transportation other than railway (voluntary insurance CASCO) and civil liability insurance for vehicles (RCA + CMR).
Austrian group Grawe, which has been operating in Romania for 15 years, underwrote gross premiums of RON34.6 million in the first nine months of 2015, and reported a net profit of RON2.4 million. Grawe Romania’s assets totaled RON373.2 million in the first nine months of last year, up 6.48% compared with January-September 2014.
On the auto insurance sector, Grawe is present on the markets of Austria, Slovenia, Croatia, Bosnia, Ukraine and the Republic of Moldova.