Groupama posts EUR 8 M loss in Romania for 2009
Groupama last year sustained (operating, before tax) losses of EUR 8 M, the figure being three times smaller than in 2008, a French group report issued yesterday and cited by Mediafax informs. In Romania, Groupama owns Groupama Asigurari and OTP Garancia Asigurari, with the two companies reporting a combined loss of EUR 9.7 M in 2009 compared with EUR 23.7 M in 2008, the report further states. Acquisitions Groupama made on the local market in 2008 - Asiban and OTP Garancia Asigurari – contributed EUR 52 M to the group’s domestic turnover. The Groupama companies in Romania last year registered gross subscribed premiums worth EUR 209 M, less by 10.9 per cent than in 2008. General insurance premium value dropped by 7.9 per cent to EUR 190 M in 2009.