Generali enjoys booming sales and revenues

Austrian insurance companies grouped under the umbrella of Generali are increasing their share of the Polish market. During the first quarter its property insurer collected zł.63.7 million in premiums - a 100% increase over last year. "This is mainly thanks to dynamic sales of car insurance and corporate insurance. With regard to car insurance we remodeled our tariffs which allowed us to compete even with PZU," said Generali management board member Jarosław Mastalerz. The company plans to raise zł.200 million from the property segment by the end of the year. However, the large growth and substantial investment in its distribution network will mean an annual negative net result of Generali. "We posted a slight profit in Q1, but we will end in the red. We should get into profitability in 2005," assured Mastalerz. (Puls Biznesu, p. 7) M.M.