Groupama’s life insurance business was more profitable in 2015, even though gross underwritten premiums only amounted to RON46 million (EUR10 million), namely around 5% of total premiums.
The insurer posted a total profit of RON16.5 million in 2015, four times higher than in 2014.
On the general insurance segment, the French insurer improved its earnings considerably, switching to RON3.2 million profit from a loss of RON14.7 million in 2014.
Groupama sold insurance totaling RON804 million last year, up 13% compared with 2014.
For 2016, the insurer expects 5% growth in gross premiums, to RON844 million.
At the end of last year, Groupama had assets of RON1.26 billion in Romania, 7% higher than in 2014.
Groupama is market leader on the voluntary car insurance market, with a 22% share, and on the farming insurance segment.