General insurance supports a double-digit growth for GENERALI Asigurari
 GENERALI Asigurari has ended the first three quarters of this year with
an increase of 16% of businesses, up to a volume of underwritings of
RON 370 million, from RON 319 million in Q3/2008, on the the background
of an evolution over the expectations of the general insurance segment.
In these conditions, GENERALI Asigurari estimates that 2009 will end
with dynamics above the market.
According to the company, general insurance had an evolution over the expectations, of 20%, up to RON 306 million, compared to the RON 255 million in the period January - September 2008. Although life insurance registered, overall, a slight decrease of 0.6%, group life insurance obtained an advance of 21%.
As for the general insurance segments which posted the most significant growth rates, underwritings from fire insurance in industrial and commercial areas increased by 64%, the household one - by 30%, and liability insurance - by 22%. Also, the volume of business on the MTPL and Green Card insurance class has doubled.
"We continue to closely monitor all insurance segments, because we want, at the end of the year, to see good evolutions for each one of them. Obvioulsy, there are products that have been hit the hardest by the financial crisis, by the need for liquidity and by falling living standards, such as individual life insurance, but the big challenge, until the end of the year, as well as for 2010, is just their growth despite unfavorable downturn", explained Marie KOVAROVA, General Manager of GENERALI Asigurari.
"Stability and sustainability of GENERALI Asigurari are also confirmed by the degree of solvency of the company for the first 9 months of 2009, situated well above the threshold requested by the ISC", Pavel PAIDAR, Financial Director of the insurer said.
"In conclusion, very good results recorded on the most important insurance segments are a confirmation of the evolution of this year and that gives us a positive outlook of the results for the whole year 2009, where we estimate that we will be over the market dynamics", KOVAROVA added.
Author: Andreea IONETE
on 10.11.2009
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