ALLIANZ-TIRIAC puts its stake on life insurance
Although ALLIANZ-TIRIAC reported a drop on the life insurance segment from
EUR 8.35 million in T1/2007 to EUR 6.4 million in the first three months
of 2008, the company will focus particularly on this line of business
as it intends to mobilize its sales force and to introduce innovative
products on the market.
"The completion of some important policies and also the pension-oriented
sales force, where we, in fact, recorded notable results, had a significant
impact upon the life insurance segment. We intend to grant life insurance
with a special consideration and we already have a viable and efficient
strategy regarding this class", Cristian CONSTANTINESCU, General
Manager of ALLIANZ-TIRIAC, stated.
In this context, the company has recently launched a new and unique life
product for the Romanian insurance market, EuroMax.
This 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.
"We respect our client orientation strategy and we want to provide
them with the most efficient investments on the international markets",
the official pointed out.
For EuroMax the invested capital is 100% guaranteed at the maturity of
the contract, the net asset value performance is daily locked-in and the
historical maximum registered by the net active value is guaranteed to
the maturity of the contract.
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.
For this year, ALLIANZ-TIRIAC targets gross written premiums of EUR 2.25
million for approximately 750 issued policies expected.
"We aim to successfully meet our targets for 2008, EuroMax being
only the first product from a diversified innovative products series we
intend to
launch on the market. Life insurance segment in Romania still stands at
an incipient development stage, but I am really confident in its significant
growth potential", Masoud NOORMOHAMMADIAN, Executive Director Life
Insurance, ALLIANZ-TIRIAC, declared during the press conference.
Author: Oleg DORONCEANU
on 13.05.2008
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