The local insurer registered net loss of EUR23 million last year after profit of EUR1 million in 2011.
However, its underwritten premiums rose 14% in 2012 and the insurer was ranked fifth on the local market.
General insurance contracts generate 95% of the company’s overall gross premiums.
Groupama entered Romania in 2007 when it bought the insurance division of Banca Transilvania (TLV.RO) for EUR100 million. A year later, the group acquired Asiban and the two insurers merged in 2009 under the Groupama brand.