2020 marked a significant increase in the person insurance segment, which totaled RON107 million, up 27.5% on the year. Life insurance contributed RON46 million (30.2%), while health and casualty insurance grew 25.5% on the year in 2020, with total gross underwritings of RON61 million. The positive evolution on this segment is in line with the upward trend also seen on the insurance market globally, confirming a higher level of risk awareness among Romanians, but also a greater importance for health and financial stability.
The voluntary car insurance (CASCO) segment, the company’s first business line, also had a significant contribution to total revenue, reaching RON492 million in 2020, slightly lower compared with the previous year, by 0.6%.
In 2020, the property insurance segment, including the agro-insurance segment, the second business line as a share in total revenue, also contributed significantly to the company’s results, generating revenue of RON277 million, up 8.6% versus 2019. However, results on this segment were negatively impacted by the exceptional drought, which affected crops and lead to major damages.
Groupama Asigurari also announces a 158% solvency rate, calculated for the fourth quarter of 2020.
On a group level, Groupama reported total gross underwritings of EUR14.4 billion and an operating profit of EUR306 million in 2020.