The group, which is present in 11 countries, including Romania, posted a 7.6% growth in international premium income at EUR2.78 billion last year, according to the company’s report.
International property and casualty insurance premium income totaled EUR1.8 billion at the end of 2014, a 0.9% decrease compared with 2013.
“This change is mainly related to the 3.9% decrease in the motor insurance branch (including fleets) owing to difficult macroeconomic or market conditions in certain countries (in particular in Italy, Turkey, and Romania) and the Group’s willingness to control its risks. The good performance of the agricultural insurance business lines (+21.1%), mainly in Turkey, and the 5.5% increase in corporate and local authorities insurances offset part of this change,” the company said in a statement.
In Romania, the group owns over 99% in Groupama Asigurari.
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.
In 2009, BT Asigurari and Asiban merged to form Groupama Asigurari, which also included the portfolio of OTP Garancia Asigurari.