ALLIANZ-TIRIAC is raising the target for EuroMax to EUR 5 million
 Romanian leading insure ALLIANZ-TIRIAC will supplement the issue for EuroMax policies, following the success this unit-linked life insurance product with maturity guaranteed investment had since its launch in May 2008.
Thus, the 679 EuroMax policies sold up to the end of August 2008 generated gross written premiums of EUR 2.7 million, with around 20% above expectations the company representatives made for the whole year. Also, ALLIANZ-TIRIAC estimates the demand for new policies to over EUR 2.2 million, so as the company will reach this level, income from EuroMax will come at EUR 5 million for 2008.
Also, the guarantee at maturity, at this moment, is more than 103% of the initial investment made by the holders of these policies.
Therefore, by the end of the current year, the insurer will have issued two new tranches of value certificates with dynamic guarantee at the maturity of the contract.
"Demand for this innovative product has exceeded our expectations. This demonstrates that increasingly many of our clients are interested to carry out investments in long term financial planning instruments such as this product and ALLIANZ-TIRIAC has the necessary capacity and expertise to meet the expectations of all its clients. In this context we have raised our target regarding sales of EuroMax or the current year up to EUR 5 million", Masoud NOORMOHAMMADIAN, Executive Director Life Insurance and Health, ALLIANZ-TIRIAC has stated.
EuroMax is a unit-linked policy, a structured investment product - instrument with dynamic investment into options and bonds whose maturity value will be related to the DJ Euro Stoxx 50 evolution.
The contract duration is of maximum 12 years while the single premium stands at minimum EUR 2,000. The investments will be allocated into options and bonds and will be managed by an expert team of DRESDNER Kleinwort, member of ALLIANZ Group.
The investment strategy is based on a dynamic allocation of the resources depending on the short-term economic conditions.
Author: Andreea IONETE
on 11.09.2008
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