Generali relies on banks and brokers

Generali insurance company will pursue consolidation on the Romanian market through strengthening its sales force, as well as thorough tighter co-operation with the banks and the leading international brokers, following last year’s results below expectations. “We failed to completely meet our last year targets in Romania, especially because we cared about the profitability of the company and did not underwrite certain industrial risks at the low prices on the market,” said Werner Moertel. Moertel is the official in charge of Central and Eastern European operations for Generali Holding Vienna, through which Italian insurer Generali co-ordinates the business in Romania and in other CEE countries. Generali Asigurari collected 20 million euros in gross premiums last year, the same as in 2002, albeit the insurance market rose 20% to 600 million euros. ZF