BUCHAREST (Romania), February 19 (SeeNews) - The Romanian unit of Austrian insurer Grawe expects its gross premium income to rise by 30% this year from the 101.4 million lei ($41.0 million/27.9 million euro) it reported for 2007.
The net profit of Grawe's Romanian operations rose by 90% last year to 7.92 million lei, while gross premium income increased by 31% and the insurer paid claims worth 4.3 million lei, it said in a statement late on Monday.
Grawe said it aims to reach the fifth position in the life insurance sector in Romania. Last year it said it held the sixth position with a 5.35% market share.
Grawe bought Romanian insurance company Sara Merkur from fellow Austrian insurer Merkur Versicherung in January 2005. A merger of Grawe Romania and Sara Merkur was completed in March 2006.
(1 euro = 3.6363 Romanian lei)
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