Generali records 52% increase in insurance premiums

Generali representatives announced that they hope to double the result this year, although no precise figures were revealed. For comparison, the domestic insurance market is set to grow at a pace of 10-15% annually. "We are in the process of launching two new projects," said Generali management board member, Jarosław Mastalerz. In 2005, the main growth engine was the life insurance arm of the company, which generated a 149% increase in gross premiums. The net profit of this division stood at zł.21.3 million at the end of the year. "We hope that after collecting data from Q4, Generali Życie TU will rank sixth on the market and will overtake the main rival," said Erich Fischer, president of Grupa Generali. The aim is to be the fifth largest life insurer on the domestic market. (Puls Biznesu, p. 10) A.K.