Gothaer Asigurări Reasigurări Romania got in the 2015 H1 36.41 Mio Lei GWP, outlining a selective underwritten portofolio, in a decreasing trend compared to the same period of last year, said the company in a statement.

„In this development stage of the company, portofolios performance is fundamental to us and we are glad to see that the 2015 H1 gross technical result of the company is positive, amounting to over 9 Mio Lei.
It is the result of the company’s efforts in taking the necessary steps for building a strong and sustainable operation. Yet there are still steps to be taken forward towards our development model, as we are not set to the maturity level we are expecting regarding the underwritten portofolios in order to maintain a positive net result (Including the Reinsurance result).

We witness a significant optimization of the net result though, by recording 2015 H1 net results of over 50% than expected for the first part of the year”, states Anca Băbăneață, CEO Gothaer Asigurări Reasigurări.

The insurance lines of business leading enhanced performances are mainly the agricultural insurances, bonds, but also motor hull insurances, where the efforts of the insurer regarding the portofolio management are notable in the recorded results. Performances in line with the expectations are being noticed in other segments of insurance as well.

„We are very glad seeing the positive development of Gothaer in Romania. Although the actual climate is not the most favourable, with our local high achieving team, competitive products and high-quality services we hope to regain growth. We are confident that the 2015 results will also record upward trends. The Gothaer group gives its full support and know-how, by concurring all necessary resources for developing the Gothaer brand in Romania”, declares Thomas Leicht, President of the Board of Administration of Gothaer Asigurări Reasigurări.

„We have to carry forward the same positive direction in terms of technical portfolio management and, in the same time, to resume our necessary growth rate in order to reach the business level of maturity and a business volume that sustains costs absorption and estimated claims level. We reach for an optimal balance between the level of gross written premiums and net performance of portofolios”, says Anca Băbăneață.

We bring to mind that the Gothaer group’s strategy of entering the Romanian market was based on taking over a small sized company, redirecting a high cost aquisition of a medium sized insurer in investments for a modern, sustainable platform, aligned both to the requirements of the German group, as well as to qualitative European standards.

The insurer is still in its expansion stage, the investments level in developing the current operations and aligning to Solvency II standards being notable.