Mediations and revenues of OTTO Broker have doubled in the first half of the year
 The insurance brokerage company OTTO Broker has mediated, in H1/2010, a premium volume of RON 14.6 million, double compared to the same period in 2009, when mediations amounted to RON 7.35 million. Incomes of the broker have also doubled, to over RON 2.4 million.
"We were able to grow in 2009 and in 2010, because we invested a lot and we had confidence in our team. Spectacular growth rate in the first half is due to the fact that our massive investments in 2009 in the retail distribution began in the second quarter and, as such, the term of comparison is not very relevant", said Victor SRAER, General Manager, OTTO Broker.
"Certainly, the second half will not show increases as great, but we hope to end the year with an overall increase of 60%. Furthermore, we expect a difficult semester two, which we hope to pass well with a realistic and creative marketing. We are also very focused on developing information systems, that allow two things: better service for customers and a more efficient business management", continued Victor SRAER.
The company's portfolio was dominated by MTPL insurance (above 80.1%), that generated mediations of around RON 11.7 million, 152% more than in H1/2009. Motor Hull insurance contributed to the total volume of mediations with RON 1.5 million, up from 1.13 in the first six months of 2009.
Other insurance classes that had notable results in the first half of the year are fire and allied perils insurance, representing 4.8% of total portfolio of OTTO Broker, over RON 700 thousand, and accident and illness insurance, which increased from RON 27,600 to RON 135,400.
The name of OTTO Broker became known to the insurance market in late 2008, when the TOTAL Advisor company's rebranding took place, which is currently one of the most active brokerage companies in the Romanian insurance market. At the Insurance Market Awards Gala 2010, awarded by PRIMM - Insurance & Pensions Magazine, the company OTTO Broker received the Prize "Insurance Brokering Initiative of the Year".
Its distribution network is highly extended nationwide, with 27 regional offices and distribution points in the commercial galleries such as hypermarkets Carrefour, Cora, Real, Auchan and many more.
Author: Andreea IONETE
on 23.08.2010
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