German insurer Gothaer sees 2.7% lower revenues in Romania

German insurer Gothaer’s Romanian subsidiary saw revenues of RON 82 million (EUR 18.2 million) last year, down by 2.7% compared to the previous year. The turnover went down, as the firm stopped selling aviation insurance. Without taking into consideration the aviation segment, the volume of gross written premiums rose by 7% compared to 2014, said Anca Babaneata, Gothaer Asigurari Reasigurari CEO, in a press release. In 2015, the company paid compensation of almost EUR 10 million. The biggest compensation paid amounted to almost EUR 500,000. The company registered a positive gross technical result of EUR 5.06 million. However, Gothaer Romania ended the year with net losses of some EUR 5.6 million, 46% lower compared to the ones in 2014, as the company is still in a growth phase, according to its representatives. editor@romania-insider.com