ALLIANZ-TIRIAC has increased its share capital by RON 27.8 million from the 2009 net profit
 ALLIANZ-TIRIAC Asigurari has announced the share capital increase by over 40%,
from RON 66.6 million, to RON 94.4 million. The operation, achieved by incorporating
94% of net profit earned by the company last year, totaling over RON 29.6 million,
was registered at the Trade Office, after having been previously approved by
the Insurance
Supervisory Commission.
Most of the sum representing the net profit has been kept this year in the company accounts, by incorporating in the share capital of the company approximately RON 27.8 million, in order to support the company's development plans. Through this policy, ALLIANZ-TIRIAC aims to strengthen the company's financial position, by creating a solid base of capital, the insurer said.
Over the last five years, the own share capital of ALLIANZ-TIRIAC has multiplied almost five times, from a value of RON 111 million, in late 2004, to RON 537 million, at the end of 2009.
After the operation, company's shareholding structure has not undergone any changes, the significant shareholders being ALLIANZ New Europe Holding GmbH, with a 52.16%, participation to the share capital, and VESANIO Trading Ltd., with a 44.48% participation to the share capital.
Author: Andreea IONETE
on 06.09.2010
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