Gras Savoye brokers insurance worth 7m euros

Gras Savoye, the sixth biggest insurance broker on the Romanian market, last year handled policies worth some 7 million euros, a slight drop compared to the previous year. In 2004, the company brokered insurance premiums worth 7.15 million euros (over 29 million RON). Gras Savoye received commissions worth 850,000 euros in 2005, almost 15% more in euros than in the previous year. Whilst the level of commissions received is rising, the number of contracts brokered dropped against the 2004 figure. In 2004, Gras Savoye received commissions worth some 740,000 euros (over 3 million RON) and made a profit of almost 300,000 euros. The profit margin exceeded 40%. The company is expecting a turnover (commissions received) worth a million euros this year. Half of the contracts brokered by Gras Savoye last year are insurance for goods and losses as a result of suspending activity, followed by contracts for car insurance (28% of the portfolio), civil liability insurance (10%), accidents (5%), Cargo (4%) and constructions insurance (3%). Insurance contracts brokered for individuals account for 1% of the broker”s portfolio. Gras Savoye Romania was established in 1996 and is a part of the French group by the same name. The company has a share capital worth over 8,500 euros (30,000 RON). Gras Savoye saw business worth 406 million euros in 2004. ZF