Performance for City Insurance: 2018 finds the company on the rise

After a while with many challenges, Societatea de Asigurare-Reasigurare City Insurance reconfirms its status as an important player in the Romanian non-life insurance market.

 

Bucharest, 18 January 2018

 

City Insurance reveals today its 2017 financial figures, a clear analysis of the company’s growth and of its commitment to the promises it made to its clients and partners:

 

  • Total number of contracts subscribed: 4.877.239
  • Total claim files processed: 110.696
  • Claims paid during the entire year: Lei 647,462,035.84, the equivalent of Euro 138,949,296.27

 

“In a market in which is ever harder and harder to gain the trust of the clients and, especially, to remain among their top preferences, 2017 was for City Insurance the year in which it consolidated the relationships with its clients and partners. The figures prove this,” says the company management.

 

“On our own and with a proper approach, we managed not only to survive in the market, but to lead ahead of some important brands in this industry. Our mission is to always hold the lead position in the top of the most trusted insurance companies in Romania,” adds the management of the insurance-reinsurance company.

 

Also, in 2017, the company became the top seller of MTPL, even if this position was not one of its objectives. “What happened was a consequence of imposing a single rate for the MTPL policies, by the Financial Supervisory Authority (FSA). From then on, only two companies continued to sell MTPL, City Insurance being one of them, the others refusing to stay in the market, boycotting the sales of MTPL policies under various pretexts,” adds the management of the company.

 

Societatea de Asigurare – Reasigurare also performed in its involvement in the lives of top Romanian sports people. The Company is the main sponsor of FCSB football team, and a supporter of the Romanian Basket Federation. Likewise, City Insurance has carried out multiple social responsibility activities in 2017.

 

City Insurance will publish an annual report for 2017.

A detailed profile of the company will be updated on its webpage: www.cityinsurance.ro

About City Insurance:
Societatea de Asigurare-Reasigurare City Insurance was established in 1998. Its professional achievements were recognized by GPPA (Insurance Market Prize Gala), an event attended by the most important insurers in Romania. Furthermore, the company was included in the Top 10 Insurers in Romania. Nowadays, City Insurance has over 300 employees and 42 branches which both subscribe non-life insurance and process