Grawe grosses 45bn ROL

Grawe Romania Asigurare, a company specialising in life insurance, logged 45.95bn ROL in gross premiums last year, up 45.4% from 2001, when it grossed only 31.6bn ROL. “The report of auditor Ernst & Young shows our net profit to be worth 2.47bn ROL, while total assets amount to 56.9bn ROL. We consider these results to be positive, particularly because Grawe entered the Romanian market in October 2000 and the competition on this market segment is tough,” CEO Peter Kasyk said. The number of contracts concluded since establishment until the end of last year amounts to about 15,000. Claims settled by Grawe in 2002 totalled 370 million ROL, compared with 263 million ROL in 2001. Kasyk added Grawe’s management plans for 2003 included 80% growth in gross premiums-related revenues and investing more money in buying classical architecture buildings. ZF