Business increase of 16% in the first quarter of 2019
MIC Insurance, the insurance company specializing in surety and construction sector, has grown in premium volume in the first quarter of 2019 compared to the same quarter last year. While the company closed the same quarter in 2018 with € 26,778,596.00 of gross premiums, in the current year it has reached an amount of € 31,165,927.00, which represents a growth of 16,38%.
This increase in business volume is also supported by excellent claims results, with a net reinsurance ratio of 60% compared to 68% of previous year. This allows MIC to ratify the excellent evolution of the Company and the forecast of good data for this year.
In this regard, the Company’s business plan for 2019 is committed to a significant growth in all business of construction, taking into account the specialization in the business of the Company, which certifies an experience of 25 years in this sector.
The work carried out by MIC this year has been accredited once again by large reinsurance companies that support its management, since they have renewed and increased the capacities in some lines of business in each annuity. In addition, it should be noted that the Company closes the year without registering any complaints by its insured.