Marsh brokers insurance policies worth 48m euros

Of the overall premiums brokered, 42% were for auto insurance policies, 20% for property insurance, 20% for liability insurance, 14% for credit insurance and other types of financial policies, and 4% for employee benefits – life insurance, health insurance, and voluntary pensions). “2009 was the toughest year after the boom experienced by the insurance market. We recorded the biggest decline on the credit insurance contracts sealed by banks, because this product was no longer in demand. The professional liability, and the commercial credit insurance segment saw a rise, with claims settled by the insurers also seeing a rise,” said Cristian Fugaciu, general manager of Marsh Romania, the subsidiary of the largest insurance brokerage and consulting company in the world. According to company representatives, revenues remained the same in 2009 as in 2008. Data from the Insurance Supervision Commission reveal that Marsh posted 27.6 million RON (7.5 million euros) in revenues in 2008, generated exclusively by brokerage of insurance contracts.