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City Insurance: Volume of gross written premiums rose by 38 pct in first nine months

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The Insurance-Reinsurance Company City Insurance concluded the first nine months of 2019 with a volume of gross written premiums of 298 million euro (the equivalent of 1.413 billion lei), an increase of 38 pct over the same period of last year, according to a release of the company, sent to AGERPRES on Wednesday.

The number of damage cases paid until the end of the month of September 2019 rose to 109,065, compared to 84,424 in January - September 2018.

In the first nine months of 2019, City Insurance recorded a total volume of damages paid of 179 million euro, the equivalent of 849 million lei.

Of the total volume of gross premiums, the mandatory motor liability insurance (RCA) have a value of 252 million euro (the equivalent of 1,196 billion lei), and non-RCA premiums record a value of 46 million euro (the equivalent of 218 million lei).

The most important increases over the same period of last year come from CASCO insurance contracts +306 pct, engineering type insurance contracts +247 pct, guarantee insurance contracts +221 pct.

RCA liability insurance maintained their increasing trend (+26 pct) over January-September 2018.

At the end of September 2019, the portfolio of the Insurance-Reinsurance Company City Insurance includes 170,082 homes, 269,070 persons insured against accidents and 2,136,330 vehicles.

According to the document, Insurance-Reinsurance City Insurance Company is the leader on the market of general insurance in Romania. Established in 1998 by Romanian and foreign investors, having its headquarters in Bucharest, the company has 42 offices and branches all throughout the country, having more than 400 employees.

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