Insurer Generali's premiums, up 4.7% in Q1 in Romania

Insurance company Generali Asigurari posted around EUR 27 million in gross subscribed premiums in the first quarter of the year, which was down 4.7 percent on the same period of 2009. However, March brought the first increase this year, with the gross subscribed premiums in that months up 14 percent on March 2009, according to Generali. Although general insurance posted a slight decrease, fire insurances for industrial risk went up 42 percent, house insurances up 11.4 percent, the accident insurances was up 65 percent, while RCA and Green Card, 12 percent. “The big drop in the auto and leasing market had a negative impact over the Casco segment on the market, and Generali was no exception, even if the impact was not a linear one. Fortunately, we have managed to balance with the focus on other products with development potential,” said Marie Kovarora, general manager of Generali Asigurari (in picture). The company plans to re-focus on life insurance in the second quarter of the year. Overall, the company expects to post a growth for the entire year above the average market increase.