French insurer Groupama wants to pass RON 1 bln turnover in Romania

French insurer Groupama’s local subsidiary wrote gross premiums of RON 932 million (EUR 208 million) last year, up 16% over 2015. This year the company plans to increase its turnover by 10%, and thus exceed the threshold of RON 1 billion (EUR 219 million). The profit of Groupama in Romania reached about EUR 6.7 million last year, up 30% year-on-year. “Business growth would come from the health insurance segment, policies against accidents and from the corporate insurance segment,” explained François Coste, CEO of Groupama Asigurari. The insurer’s main growth engine last year was the general insurance segment. The underwritings from general insurance went up by 19% year-on-year reaching RON 901 million (EUR 197.4 million) last year. On the other side, life insurance saw a strong decline of up to 30%. The segment reached RON 31 million (EUR 6.8 million) in 2016. editor@romania-insider.com