ARDAF loses RON 50.8 million in the first three quarters
The losses registered by the insurance company ARDAF in the first nine months of the current year have exceeded with 41.26% the negative financial result from the same period of 2007, growing from RON 36 million to almost RON 50.8 million.
At the same time, at the end of the third quarter, ARDAF had underwritings of RON 285.7 million, a 253.7% growth in comparison with last year's same period. Between January-September the claims paid by the company grew by 126.24%, up to RON 126.3 million.
The MTPL and CASCO underwritings had the biggest average in ARDAF's portfolio structure in the first nine months, of 67.3% (RON 192 million) and, respectively, 24.5%, a total of RON 70 million.
ARDAF's majority stake was bought, along with the one of RAI Asigurari, by GENERALI PPF Holding
after an agreement signed at the end of June 2008 by the Italian group with the Czech investment fund, PPF Investments. After this transaction, which was authorized by the Competition Council,
GENERALI PPF will own 72.7% of ARDAF and 99.9% of RAI Asigurari.
At the end of H1/2008, ARDAF takes the ninth place in the Romanian insurers top, having gross written premiums of RON 218 million (EUR 59.4 million) and a market share of 4.93%.
Author: Andreea IONETE
on 12.11.2008
Comment this article
0 comments
|
