The company maintains its year-end goals to reach a gross profit of RON20 million and a 5% growth in premium revenue.
“After turning a profit in 2014, the first half of reconfirmed profitability goals, we strengthened our position on the market on the business lines we wish to develop, we remained the top five insurer targeted by the fewest complaints and we’ve prepared for Solvency II standards,” company general manager Francois Coste said in a press release Tuesday.
Last year, Groupama underwrote premiums of RON710.6 million last year, down 1% compared with 2013, due to lower revenues on the segment of mandatory car insurance (RCA), and posted a gross profit of RON13.5 million, from RON45.7 million loss in 2013.
According to data from the financial regulator ASF, the company paid RON480.9 million in damage claims last year, of which RON466.1 million for general insurance, 10.3% less than in 2013.
French group Groupama entered the Romanian market in October 2007, when it bought BT Asigurari for EUR100 million. In April 2008, Groupama took over insurer Asiban for EUR350 million.
Groupama is present in 11 countries, has over 13 million clients and 34,000 employees.
In 2014, the group posted revenues of EUR13.6 billion, of which EUR3.1 billion outside of France.