ALLIANZ-TIRIAC Asigurari - underwritings of over RON 1 billion in the first nine months
ALLIANZ-TIRIAC Asigurari surpassed, in the first nine months of 2008, RON 1 billion in consolidated revenue (general and life insurance), with gross written premiums of RON 1.039 billion. The result represents a 13% increase compared to the same period a year earlier, when underwritings rose up to RON 920 million.
A similar trend was also recorded for the net profit. After the first three quarters of the current year, it grew by 14%, to a value of RON 22 million (RON 19 million in the same period of 2007).
On the general insurance segment, underwritings made in the period 1 January-30 September 2008 raised at RON 950 million, this value being with RON 103 million bigger than the one recorded in the first nine months of the previous year. Increased income from general insurance was mainly sustained by the positive development of sales for property and buildings insurance, and for motor insurance.
Motor hull insurance still represents the biggest share in the general insurance portfolio. In the period January- September 2008, the income from gross written premium on this class of insurance exceeded RON 580 million, an increase of over 14% compared with the same period of 2007.
In the analyzed period, the company's underwritings of motor third party liability have exceeded RON 148 million, with 6% more than in the first three quarters of the previous year.
Sales of policies for property and buildings insurance issued by ALLIANZ-TIRIAC Asigurari had a 20% growth, up to a level of RON 150 million in the first nine months of 2008 (RON 125 million in the period January-September 2007).
"ALLIANZ-TIRIAC Asigurari remains one of the few companies on the market which succeeds to profitably develop the general insurance operations. In the first nine months of the current year, the operational profit on this segment was RON 21.2 million, as the claims rate for the general insurance business fell by almost 4%, to a level of approximately 78%", the company officials mentioned.
On the life insurance segment, ALLIANZ-TIRIAC Asigurari obtained an operational profit of RON 6.1 million, whereas the income of gross written premiums registered a 23% growth, from RON 72 million as at September 30 2007, to almost RON 90 million in the corresponding time-frame of 2008. Underwritings from unit-linked life insurance, of RON 59 million worth, represent two thirds of the company's sales on the life insurance segment.
Author: Oana RADU
on 05.11.2008
Comment this article
0 comments
|
