According to data released by the National Union of Insurance and Reinsurance Companies in Romania (UNSAR), Carpatica Asig’s underwritten premiums fell to 201.5 million lei (EUR46.1 million) last year from RON297.5 million a year before.
“The company’s 2011 results show an about 30% decline in gross underwritten premiums compared with 2010, due to the decrease registered on the general insurance market, especially on the car insurance segment (-17%),” reads the press release.
The insurer’s gross underwritten premiums increased by 52% in the first two months of the year to RON40.29 million from RON26.45 million in January-February 2011.
The company’s 2012 objective is to implement a development strategy targeting the non-car insurance segment (the home insurance and civil liability insurance segments), as well as increase the number of corporate policies, especially for small and medium enterprises, said Carpatica Asig general manager Mariana Flucus.
The insurer also wants to expand activity abroad this year, Flucus added.
Carpatica Asig is part of group Atlassib Sibiu, controlled by businessman Ilie Carabulea. It operates only on the general insurance segment. (EUR1=RON4.3688)