The company switched to profit due to the decrease of damage claim expenses.
According to the data of Financial Supervisory Authority (ASF), Groupama Asigurari paid damage claims worth RON480.9 million last year, out of which RON466.1 million for general insurance, down 10.3% compared with 2013.
The company’s general manager, Francois Coste, said that the company plans to increase revenue from premiums by 5% this year and maintain the company in the top 5 insurers with the lowest number of complaints for the third year in a row.
The company also targets a gross profit of RON20 million.
French group 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.
Groupama is present in 11 countries, has over 13 million clients and 34,000 employees.