Uniqa Insurance and Uniqa Life Insurance report a 9 pct drop in gross written premiums at 9 months

Newsroom 21/11/2018 | 11:46

Uniqa Insurance and Uniqa Life Insurance announced that in the first nine months of the year, compared to the same period of 2017, they recorded a decrease of 9 percent in gross written premiums, to EUR 69 million, in the context of lower exposure on the auto segment.

The best dynamics in the first nine months of this year were recorded in the life insurance segment, within Uniqa Life Insurance, with sales of EUR 13.2 million, 47 percent more than in the same period of last year.

Uniqa Insurance also reported a 7 percent increase in non-motor insurance sales over the first quarters of the year, with gross premiums written on this segment of EUR 19.4 million.

”This year’s steady growth in the profitable segments we have decided to focus on since 2014, namely life and non-motor insurance, has led to a reduction in the losses incurred by the two companies. This success is due to the adoption of an independent business strategy aimed at limiting exposure to the motor segment due to the influx of damages with a negative financial impact on the company. It was a courageous decision in the context in which the Romanian insurance market continues to be dominated by such products,” said Franz Weiler, Uniqa Insurance general manager.

The two companies also continue to reduce administrative costs, which are down 14.5 percent in the third quarter compared to the same period last year, in the context of increased automation and standardization of products and services.

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