The company’s general manager François Coste said the insurer will operate a new share capital increase of EUR11 million by the end of March.
Groupama Asigurari is 99% owned by French group Groupama SA.
French Groupama entered Romania in 2007, after acquiring BT Asigurari in a EUR100 million transaction. In April 2008, Groupama took over insurer Asiban for EUR350 million.
In 2009, BT Asigurari and Asiban merged to form Groupama Asigurari, which also included the portfolio of OTP Garancia Asigurari.
In 2012, Groupama Asigurari’s revenue from underwritten premium rose 12% on the year to RON807.29 million, of which general insurance totaled RON760.86 million, from RON663.45 million in 2011.
The Romanian insurance market posted 5.8% growth last year, to RON8.27 billion, after declining nearly 12% in 2009-2011, from RON8.87 billion to RON7.82 billion, according to data from the country’s insurance watchdog CSA.
The general insurance segment totaled revenue from underwritten premium of RON6.47 billion, up 6.3% from 2011, CSA data also show.