GENERALI puts its stake on profitability
GENERALI Asigurari, the eighth player in the Romanian insurance market, aims at a 19% increase in 2008, estimating an underwriting volume of RON 455 million.
On the general insurance segment gross written premiums are expected to worth RON 364.5 million, while life insurance underwritings are estimated to reach RON 90.5 million.
"This targeted increase of 13% for general insurance is in line with market realities and also with our development strategy on motor market, where franchises were introduced both for individuals, as well as for brokers and leasing companies. We will grant special attention to our life division, for which we aim a 49% increase, mainly due to our sales force", Tudor MOLDOVAN, General Manager of GENERALI Asigurari has stated.
The insurers' strategy also looks for a profitable growth across all lines of insurance.
"The strategy for 2008 is included in the overall strategy for the next five years which aims to profitable growth and boosting the share of life insurance, which, alongside pensions will further meet a significant evolution, as the middle class consolidates", MOLDOVAN added.
Meanwhile, GENERALI focuses on strengthening its position on the retail segment, as well as on corporate and also the expansion in small and medium-sized cities, as the opening of 20 agencies in the territory is already decided.
GENERALI Asigurari is operating on the Romanian insurance market for 15 years now, being one of the most innovative players, reaching 350,000 contracts, 385 employees and a territorial network of 84 agencies in 2007, when it posted GWP of RON 382 million, with a 5.24% market share.
Author: Oleg DORONCEANU
on 29.05.2008
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