GRAWE business fell by 14% in 2009, but the company turns into black
GRAWE ended 2009 with an income from written premiums in decrease by 14% compared to the previous year, due to weaker interests of people for life insurance, to RON 74.4 million. Also, the company entered on profit last year, after a loss of RON 1.31 million in 2008, its level being of RON 7.6 million, despite a difficult year in terms of return on investment, both on the capital market and in the real estate field.
In 2009, the total assets of the company reached the value of RON 257.8 million, recording a growth of 16.6%.
"With the improving economic outlook, we expect an increase in sales of new contracts and the stabilization of the call-offs number, although 2010 will be another tough year", say company representatives.
"Starting the campaign for mandatory disasters insurance in 2010, program in which GRAWE Romania has announced its participation, will contribute significantly to increasing sales of insurance products for property and goods", they added.
On the life insurance segment, the company estimates that a achievable forecast for 2010 is an increase of about 5% compared to 2009.
Last year, GRAWE continued its growth strategy, achieving its goal of national coverage by the opening of 17 new working points, the total number of agencies being at the end of 2009 of 55 units.
Author: Andreea IONETE
on 26.02.2010
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