Last year, the company switched to a net profit of RON266,579, from a loss of RON90.51 million in 2009. Revenue from premiums dropped 33.6% on the year, to RON217.14 million.
This year, the company plans to invest in its sales force, widen its network of partners and improve service quality.
In 2010, the company paid a total RON234.24 million for damages, compared to RON261.23 million the year before.
Shareholders approved Monday the share capital reduction by 358.15 million lei (EUR1=RON4.1439), to RON44.77 million, and involvement in the merger with Generali Romania.
The share capital decrease operation will entail the cancellation of 3.5 billion shares.
Ardaf became active in 1992 and it is 61.7% owned by Iberian Structured Investment, while Generali PPF Holding controls a 38.29% stake.