ARDAF aims to double its business in 2008

For the year 2008, Romanian insurer ARDAF aims for more than EUR 90 million underwritings in gross written premiums, which represents twice the volume for 2007, of EUR 45.13 million (RON 157.34 million), and in the same time it is trying to develop a balanced portfolio, the representatives of the company have declared.
"For the next period of time, ARDAF's objectives are maintaining the ascendant trend registered in the first part of the year, as well as consolidating the company's current position on the profile market- number 5. We are also acting towards optimising the services offered to the clients, both in the subscription phase and in solving the claims", they stated. 

ARDAF grew in the first half of the year with 170% in gross written premiums, reaching RON 218 million (EUR 59.4 million), on the background of the strong development of the motor insurance and property insurance.
Compared to the first six months of 2007, in the first half of 2008, the claims paid by ARDAF have dropped down 15.54%, from RON 76.19 million to RON 65.94 million. Moreover, the gross written premiums for general insurance in H1/2008, have surpassed by 38.13% the ones registered by the company in the whole year 2007.

In the first half of this year, the non-life segment raised its weight in the structure of the company's portfolio, reaching 99.69%, to the detriment of the life insurance class, which generated only 0.31% of the business.
ARDAF is member of the Czech group PPF Investments, one of the leaders of the financial and insurance markets in Central and Eastern Europe and in Asia.