Profit increased at an even higher rate, 30%, to about RON30 million.
“We set out to achieve 10% growth in gross written premiums in 2017, as well as about RON30 million profit, the same as in 2016,” Francois Coste, CEO of Groupama Asigurari, said during the conference announcing the 2016 results.
The growth of the business should come from health insurance, accident policies and corporate insurance, he added.
The growth of Groupama’s revenue in 2016 came from general insurance. Gross written premiums went up 19% to RON901 million. O the other hand, life insurance saw a significant decline of about 30% to RON31 million, due to two big contracts via the bancassurance channel reaching maturity. (EUR1=RON4.5627)
(English version by Loredana Fratila-Cristescu)