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June 18, 2021

Gothaer Asigurari Reasigurari: € 122 million profit, grown with 13,2% compared to previous year

The balance of year 2014, the second year of development and investment of its local branch in Romania held by the German group Gothaer, indicates that for Gothaer Asigurări Reasigurari it was a year for following through a series of significant projects, intended to assure the operational efficiency and control level necessary for a sustainable development of the company, a year in which the growth recorded in 2013 continued and at the same time, a year during which the company proved its firm support in keeping its promises assumed to its clients.

Gothaer Asigurari Reasigurari recorded in 2014 GWP RON 84.31 million, with over 26% increase compared to previous year, closing over 97.000 new insurance policies.

„Although we are still at the beginning of our journey, by setting up consolidated basis of a healthy growth, 2014 was a year of various challenges. A year during which we continued the investment in the company, in the resources necessary for raising the company at the desired level, in the alignment to both the requirements of the group we are part of and to those enforced by Solvency II conditions. And especially in the aligmnent of the company to the expectations of its clients and partners. The internal projects that have been developed and also will continue in 2015 are a significant part in keeping the high quality standards of services we promised since the launching of Gothaer on the insurance market in Romania. The focus and care towards company’s clients is visible not only in its products, but also in the volume of claims paid to its clients,” states Anca Babaneata, CEO of Gothaer Asigurari Reasigurari.

The number of claim files handled in 2014 was over 8.000, summing up RON 62.5 million. A large part of paid claims has been due to distinct natural events affecting mostly the agricultural line of business.

„Even though we enjoy a growth of GWP and Gothaer brand awareness on the Romanian insurance market, we must not forget that we are still in our development stage. Moreover, as we aim towards a long-term development, sustainable and profitable growth, we assumed from the start a first-stage of investment in our team, IT & operational systems, as well as up-date and underwriting new products. The investments in the development of the company, in the projects architecture intended to assure the stability and sustainability of the company, in the resources assigned to Solvency II implementation are the ones simultaneously contributing to the results and value of the company ”,   states Anca Babaneata.


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