With a solvency of 118.5%, Euroins increases the sale of optional insurance
Grant Thornton, one of the world’s most important auditing and financial consulting organizations, confirms the financial stability and solvency of Euroins Romania. The audit shows Solvency Capital Requirement coverage at 118.5% and Minimum Capital Requirement coverage at 278.4%
* The number of RCA policies sold by Euroins Romania decreased, while the volume of claims paid increased steadily. In Q1 2021, Euroins registered more than 60,000 claim cases and paid more than 400 million lei for all auto and personal injury claims. The largest damage paid by Euroins amounts to 3.6 million lei.
* In line with the strategy to reduce exposure to the RCA market, Euroins Romania updates “Prima mea poliță”, a unique accident insurance product that focuses on children and accidents that occur as young people grow up.
Bucharest, June 3, 2021– Euroins România Asigurare Reasigurare SA, one of the most important players on the insurance market, announces the completion of the financial audit for 2020 and the results for the first quarter of 2021, which reflect the repositioning of the company, the appointment of a new general manager and the improvement of risk management.
The financial audit was carried out by Grant Thornton, one of the world’s leading financial audit and consulting organizations. The experts of the auditor Grant Thornton confirm the stable position and solvency of Euroins Romania. Following the measures taken by the management and shareholders in 2020, the coverage of the Solvency Capital Requirement, under the SII Directive, reaches 118.5%, and the coverage of the minimum capital requirement is 278.4%. Thus, the company complies with all legal requirements.
At the beginning of this year, Euroins Romania started a complex repositioning process on the insurance market, with a strategy centered on three main pillars: creating added value for customers, diversification of insurance policies and digitization. In line with the strategy to reduce exposure in the RCA sector and to achieve healthy and sustainable growth in the Romanian market, Euroins has refreshed its non-RCA products, starting with road assistance services, start casco and health policies. The effects of this strategy can be seen in the positive results recorded in Q1 2021. The number of RCA policies sold by Euroins Romania decreased, while the volume of claims paid increased steadily. In 2021 Euroins recorded over 60. 000 claims and paid for all car repairs and personal injuries over 400 million lei. One of the largest compensations paid in 2021 amounts to over 3.6 million lei.
“We are transparent and these results show that Euroins Romania is growing in a healthy way. As for our insurance portfolio, we will further diversify it with new, easy-to-understand products to bring benefits to our customers and add value to their lives. We are relaunching My First Policy, an accident insurance that focuses on our children and the accidents that occur as they grow up. We also collaborate with top providers in offering medical and roadside assistance products, services becoming active without Euroins intervention. We have adopted new terms and conditions for the Casco product, we have also expanded the network of partner car workshops throughout the country. It is very important to stand out by offering optional products and good services”, said Tanja Blatnik,
