Local insurer Generali Romania doubled its net profit last year, which increased from EUR 4.5 million to EUR 8.8 million, due to reducing the number of its employees by 22% and its compensation by 7.3%.

Same time, its revenues from subscriptions rose by 5.5%.

Last year, Generali’s written premiums totaled EUR 104.7 million, up from EUR 99.3 million in 2013.

Broken down, general insurance went up by 8.5% to EUR 87.06 million, whereas life policies decreased by 7.2% to EUR 17.7 million.

As for compensation, the amounts which the insurer paid on the general insurance segment dropped by 11.7% to EUR 48.9 million.

Life policies generated payments worth EUR 5.5 million, up 63.6% from 2013. Total compensation fell by 7.3% to EUR 54.4 million.

editor@romania-insider.com