Barmenia reiterates independence

WUPPERTAL - German mutual insurance group Barmenia has reiterated its desire to remain independent. Barmenia's chief executive officer, Josef Beutelmann, said his group did not see any advantage in merging with other insurers, including the Parion Group. According to Mr Beutelmann, the Barmenia group in 1998 again showed a better development than the market. Premium income rose by 5.2% to Dm1.97m, compared with a 1.8% growth in the market as a whole. Most of the premium was generated by parent health company Barmenia Krankenversicherung. It recorded premiums totalling Dm1.5bn, up 7.1%. Barmenia will continue to grow in 1999, Mr Beutelmann predicted. Over all lines, the group saw a premium income rise of 6.4% between January and March.