Business of over RON 245 million for ARDAF
The insurance company ARDAF underwrote, in the first nine months of this year, a volume of premiums of RON 245.24 million, according to the report submitted to the Bucharest Stock Exchange. At the same time, the insurer paid claims amounting to RON 186.67 million.
Motor insurance contributed with almost RON 223 million to the total of the underwritings, representing more than 91% of the ARDAF portfolio. Motor Hull insurance has brought over RON 83 million to the business of the company, up 41% compared to the results of Q3/2008.
Decreasing of the underwritings volume (nominal, expressed in national currency) amounted to 16%.
ARDAF is indirectly controlled by the group GENERALI PPF, through IBERIAN Structured Investments, which owns 98.87% in the insurer's shares, after increasing its stake by 16.87%, in the public takeover offer which was conducted in June this year.
GENERALI PPF, represented in Romania by GENERALI Asigurari, ARDAF, RAI Asigurari and GENERALI Fond de Pensii, is the fourth player on the local insurance market, with approximately 9% market share, according to Specialty Review INSURANCE Profile.
Author: Mihaela CIRCU
on 17.11.2009
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