GENERALI's 1H operating result in CEE up by 1.7% y-o-y

8 October 2015 — Vlad BOLDIJAR
GENERALI CEE Group closed the first six months of 2015 with an operating result of EUR 253 million (up by 1.7% y-o-y), while the value of gross written premiums increased by 5.7% y-o-y to EUR 1,828 million "showing an upward trend in both segments Life and P&C (property and casualty)", the Prague-based insurer announced on its web-site. At the same time, in the ten countries of the Central Eastern Europe region were the GENERALI Group is active, the reported combined ratio was 85.4%.

In the Life segment, the premium income grew by 9.6% to EUR 813 million "with a strong development in most of the main markets thanks to the excellent performance of the protection (+14.5%) and unit linked policies (+26.1%). Furthermore single premiums experienced a significant growth (+73.3%), in particular in the Czech Republic, Poland, Hungary, Serbia, Slovenia and Croatia", the GENERALII CEE officials pointed out in a press release.

In the P&C insurance lines, gross written premiums grew by 2.8% to EUR 1,015 million, thanks both to motor (+4.9%) - in particular in MTPL insurance with a growth of 7.5% - and non-motor (+0.9%) lines. Also accident and health insurance went up by 11.5%.

"We are very satisfied with the development of our Group in the first half of 2015. We have leading market positions in the Czech Republic and Hungary, in Serbia and Slovakia we are number 2 and number 3. We are strengthening our position in Croatia, Slovenia, Romania and Bulgaria. Also in Poland we are growing despite market adverse conditions", said Luciano CIRINA, the GENERALI CEE Regional Officer.

According to the Group, more than 90% of the Group's business in the CEE region is done in Czech Republic, Poland, Hungary, Slovakia, Serbia and Montenegro - whereas Romania, Slovenia, Bulgaria and Croatia account for less than 10% of total gross written premiums.

In the CEE Region, GENERALI Group is active in ten mentioned markets with more than 12,800 employees which provide insurance products to around 15 million customers.

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