Allianz-Tiriac first half revenues up over 6 percent to RON 491 mln

Insurer Allianz-Tiriac has subscribed premiums worth RON 494.1 million (EUR 112.4 million) in the first semester, which was an increase of over 6 percent against the same period of last year, while its consolidated operational profit has doubled to RON 20.7 million (EUR 4.7 million), reports Mediafax newswire.

The general insurance segment has reported an operational profit of RON 17.4 million (EUR 3.9 million), while the life segment has generated RON 3.3 million (EUR 750,836).

The written premiums in the general insurance segment stood at RON 441.4 million (EUR 100.4 million), up almost 8 percent compared to June 2013. The insurer has also reported growth both in CASCO and mandatory RCA auto insurance business.

Meanwhile, the non-auto general insurance segment registered a 3.5 percent increase in revenues to RON 123 million (EUR 28 million). Property insurance had a share of over 60 percent in this segment.

In the life insurance segment, Allianz-Tiriac has registered written premiums of RON 52.7 million (EUR 12 million), up to RON 2.5 million (EUR 568,815) over the first half of last year.

Allianz-Tiriac as paid claims in the first semester around RON 202 million (EUR 46 million) to clients and third parties in the general insurance portfolio.

“Overall, our accomplishments in the first semester are on schedule, slightly above the projections established at the start of this year,” said Remi Vrignaud, general manager of Allianz-Tiriac. He said he expected the insurer to post “consistent results” on profits and revenues this year.

The insurer is controlled by German group Allianz with a 52.16 percent stake, while Cyprus-based Vesanio Trading Limited, owned by Romanian businessperson Ion Tiriac, has the rest.

Ovidiu Posirca