Generali Asigurari posted RON 114.5 million of gross written premiums in Q1, down 4.7 percent on Q1 2009. March was its first month of growth in 2010 with the volume of gross written premiums rising by 14 percent on March 2009. Although general insurance as a whole dipped 3 percent some business segments registered two-digit growth, such as fire insurance for industrial risks (42 percent), home (11.4 percent), accident (65 percent), mandatory car and green card car insurance (12 percent). “The significant drop in the car and leasing market had a negative impact on CASCO insurance at market level, with Generali no exception, even though the impact was not linear,” said Generali Asigurari GM Marie Kovarova.
Life insurance posted gross written premiums of RON 20.9 million. Although the volume fell by 12 percent, the number of signed policies increased by 25 percent in Q1 2010 on the same period of 2009. The company’s strategy on the life insurance segment has been changed, with existing products being repositioned and some new ones being created to adapt the range to the new financial conditions.
“We intend to recover in force on the life insurance segment from Q2 and to strongly support the sector by the end of the year,” said Kovarova. She added that the company intended to post a profitable and healthy increase on all business segments this year and to see its volume of gross written premiums outpace the market average.