GRAWE Romania grows by 24% in the first nine months and enters the non-life market
 GRAWE Romania grew in the first three quarters of the year by 24% compared to the same period of 2007, the company's underwritings rising up to over RON 110 million, while the paid claims totalized USD 3.86 million. The company also announced that it will enter during this month in the general insurance market with a property insurance product. For this segment, GRAWE estimates underwritings of EUR 1.5 million for the next year and a total number of 17,000 new customers.
"Our objective for 2008 was to obtain a 30% increase in the volume of written premiums. The current conditions of the world economy, as well as the evident reluctance to investments that is beginning to manifest among the population, made us revise this forecast to 20%", the General Manager of GRAWE Romania, Peter KASYK, said.
"The results to this date are satisfactory and they enable us to remain moderately optimistic about the year to come. This way, we will still pursue our development plans for 2008, as the strategy of developing new products and of opening new territorial offices remains unchanged", Peter KASYK added.
The strategy of territorial expansion of the company has added eight new agencies and work points to the existing 44, and by the end of this year two more agencies are to be inaugurated.
With the launch on the general insurance market, GRAWE Romania has set as an objective for the next two years to gain a place among the first 15 insurers on this segment and to occupy a place among the 12 both life and non-life insurance companies.
The new complete insurance product for goods and property, offered in two cover options, Standard and Top, can also have, as an additional attachment, cover for damages due to natural disasters (flood and earthquake).
So, for 2009, GRAWE Romania aims to enter on the mandatory households insurance market, by participating in the pool of insurance against natural disasters. According to company representatives, the launch of this voluntary insurance is the first step to attain its purpose, as the product is easily adaptable and designed to be complementary to a mandatory insurance as defined by law.
Author: Andreea IONETE
on 12.11.2008
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