Metropol makes 69bn lei in revenues

Metropol Insurance-Reinsurance Company collected 69.1bn lei in H1 premiums, said Genoveva Nistorescu, the company’s marketing manager.

“The increase in receipts compared with the year ago period reached 46%. Of the total premiums collected, 7% account for life-insurance-related revenues, up 77.4% compared with H1, 2000,” Nistorescu specified. The bulk of the receipts was collected from civil auto liability insurance (31bn lei), as this type of insurance registered the largest weight in both the total receipts and the number of contracts concluded.

At the same time, the premiums collected from Green Card insurance policies reached 11bn lei. Metropol has paid 24.3bn lei in damages since early this year and has concluded some 98,000 new insurance contracts.

The development strategy for 2001 includes the expansion of the contract conclusion network through brokers, launching new products, setting up new agencies in the main cities of the country and having insurance premiums increase by 100%.

The company operates through 42 branches and 10 agencies. Metropol has 52.7bn lei in share capital, 80.8% of which foreign-owned. Metropol in 2000 registered 103.288bn lei in gross premiums volume, 97.635bn of which from non-life insurance policies, which made the company rank 14th on the life and non-life insurance market. Mediafax