Insurer Generali planning investment on domestic sales market

Italian insurer Generali has announced plans to invest in its domestic sales network. This year gross contribution to the non-life insurance division of Generali is to increase by 11%, from zł. 115.2 million at the end of 2002 to reach zł. 127.2 million in 2003. "This increase is due to direct results in introduction of new transportation insurance and other services," says Erich Fischer, the President of Generali, Poland. The consolidation of Generali and Zurich is to be finalized by the end of this year. This will lead to Generali's increase in market share, and a jump from 26th position in the life insurance sector to 10th. "We want to develop our partnership with BRE Bank, and double the number of agents," added Fischer. Currently the company has signed agent contracts with 1,000 people. Generali hopes that all its divisions will start bringing in profits by 2005. Meanwhile joint losses incurred by insurance companies will be below zł. 20 million this year, as compared to over zł. 21 million in 2002. (Puls Biznesu, p. 12; Gazeta Wyborcza, p. 19) A.K.