BT Asigurari triples revenues

BT Asigurari, a member of the Banca Transilvania financial group, closed last year with revenues of 28.6 million euros (about 103.7 million RON), three times higher, in euros, than in 2004. BT Asigurari estimates revenues worth 50 million euros (180 million RON) for this year. The company reported a gross profit of over 2.2 million euros (8 million RON). In 2004, BT saw a net profit of 1.14 million euros (5.74 million RON). General insurance brought the company underwritten premiums worth 26.9 million euros (97.6 million RON), over 222% higher on last year. Underwritten premiums for the mandatory auto civil liability insurance segment (RCA) saw an 11-fold increase in euros, to almost 10.9 million euros (39.4 million RON). “The growth was due to the increase in the sales force,” says Ioan Vreme, deputy chief executive at BT Asigurari. The company had 1,000 active sales agents in 2004, which increased threefold, to 3,000 last year. More than half the RCA policies were sold through agents and brokers, and a smaller number sold through BT Leasing (the group”s leasing company) and other leasing companies”, added Vreme. ZF