City Insurance announces preliminary results for 2019

PRESS RELEASE

Bucharest, 22 January 2020

The insurance-reinsurance company City Insurance issued insurance policies in the amount of EUR 410 million during 2019, an increase of 28 per cent compared to the year 2018.

At the same time, the amount of compensation paid reached EUR 244 million (the equivalent of 1.1 billion lei), up by 33 per cent compared to last year.

The number of claim files paid up to the end of December 2019 reached 152,483, compared to 117,084 claim files paid in 2018, up by 30 per cent.

At the end of December 2019, the portfolio of City Insurance consists of 3,218,421 insurance policies and it includes:

  • 171,745 households
  • 225,892 persons insured for risk of accidents
  • 2,143,705 vehicles

About City Insurance

The insurance-reinsurance company City Insurance is a leader in the general insurance market in Romania. Established in 1998 by Romanian and foreign investors, based in Bucharest, the company has 42 offices and branches throughout the country, having more than 400 employees.

City Insurance has developed an extensive insurance portfolio, which includes leading products and integrated services, designed to meet the unique needs of customers and to generate long-term benefits.

The company has been in the top 10 Insurance Companies since 2012 and is the only company that is not affiliated to an international group. In 2008, City Insurance became the first insurer in Romania with activities in other European states, based on the principle of free movement of services throughout the European Union, and in 2014, the company expanded its activity to the Greek market.

The performance recorded today by City Insurance reflects the efficiency of its business model targeted towards sustainable development strategies, financial growth and long-term investments.