Of the total underwritings of Safety Broker in the first quarter of 2021, the biggest increases were recorded on the guarantee insurance segment, with 49%, CMR insurance with 28%, property insurance with 28%, voluntary car insurance with 22%, life and health insurance with 17% and third-party motor vehicle insurance RCA with 21%, compared with the first quarter of 2020.
Fee income reached RON62.5 million at the end of the first quarter of 2021, up 30% compared with the same period in 2020. The profit margin was 7.9%, due to an increase in sales of optional products such as guarantees, property insurance, Casco insurance and life and health insurance, as well as a concentration towards online sales via the application.
Safety Broker switched from a limited liability company to a joint-stock company. Thus, following the approval of the Financial Supervisory Authority (ASF), the company will list its shares on the Bucharest Stock Exchange. TradeVille will broker the sale of private placement-type shares and the actual listing on the stock market.