Generali posts 9% lower gross premiums on drop in general insurances, sees growth on life insurance
The general insurances segment dropped by 12 percent , mainly due to the drop on the auto segment, the decline of the leasing market and due to clients giving up on their Casco policies.
“Unfortunately, we are active on a market still dominated by car insurance, which is the opposite compared to mature European markets. […] We managed to drop the weight of the car insurance from our portfolio by 5 percentage points during this period, while growing the weight of other types of insurances[...],” said Marie Kovářová, general manager of Generali Asigurari (in picture).
The company has also taken measures to reduce the cancellation rate of existing insurance policies, which dropped by 15 percent, according to Kovářová. Generali plans to focus on products like home insurance, touristic assistance, corporate insurances and insurances for property damages.
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