Generali Asigurari has budgeted over 50 million euro (177 million RON) revenues for this year, an increase of almost 40% on 2005. "We set out to achieve 140 million RON (40 million euro) sales from the non-life insurance segment this year and 37 million RON (10.6 million euros i.e.) from life insurance," Tudor Moldovan, the company''s general manager stated. The company estimates an increase of some 33% in euros on the general insurance market, after having sold such policies worth 30.2 million euros last year. The growth on the life insurance sector is estimated to 77% in euros. The company representatives said they expect to make losses again in 2006. The insurer posted 4 million euro losses in 2005, Generali''s chairman of the board of directors Emil Boldus said. "We expect losses again in 2006, because we will continue to invest in development. We may turn a profit next year," Boldus says. The company will increase its share capital by 5.7 million euros (20 million RON) to 14.3 million euros (50 million RON), with Generali shareholders set to discuss it on April 26. Generali will begin to sell unit-linked policies in the second half of this year. Generali entered the health insurance market at the end of last year, when it launched a product aimed at companies in partnership with the Diagnosis clinic.
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