ALLIANZ-TIRIAC relies on EUR 440 million business and on EUR 10 million profit for 2008
 The insurance company ALLIANZ-TIRIAC aims to underwrite, by the end
of 2008, a volume of premiums of EUR 440 million. Thus, according to
the insurer's estimates, the non-life segment will contribute with
more than EUR 400 million to the total underwritings of ALLIANZ-TIRIAC,
while the life insurance will represent EUR 37 million.
Also, the company relies on a EUR 10 million profit. "We are confident in obtaining those results, but the impact that the crisis on the financial markets will have on the life insurance remains to be analyzed," Cristian CONSTANTINESCU, General Manager, ALLIANZ-TIRIAC, stated.
At the same time, the ALLIANZ-TIRIAC leader estimates that the new BNR rules regarding granting credits could have the effect of stimulating savings, which would lead to an orientation towards life insurance.
The underwritings of ALLIANZ-TIRIAC Asigurari grew by 12.1% in the first half of this year, to EUR 212 million, from EUR 189 million obtained at the end of June 2007, according to interim results published by the ALLIANZ group. At the same time, the operational profit of the top insurance market in Romania has increased significantly to EUR 5 million, from EUR 3 million obtained in S1/2007 as a result of starting to have profit on the life segment.
Besides, the leader of the Romanian insurance market, ALLIANZ-TIRIAC, occupies the 19th position in the top twenty of the largest insurance companies from Central and Eastern Europe, a top made by the audit company DELOITTE, based on the gross written premiums.
Author: Mihaela CIRCU
on 26.09.2008
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