Volume of gross written premiums by Allianz-Tiriac decreased by 12 percent y/y to RON 906.3 million, although the operational income gained 5.4 percent y/y to RON 7.8 million.
Income from general insurance represented 89.6 percent of total income, while the life segment generated 10.4 percent of written premiums.
The auto insurance Casco generated gross written premiums worth RON 431 million, representing 51 percent of the whole insurance portfolio.
Written premiums in property came second, increasing by 2 percent y/y to RON 151 million in 2011.
RCA premiums generated RON 151 million in 2011, accounting for 18.6 percent in the insurer’s portfolio.
“Last year, our retail segment increased in all optional insurance classes, while maintaining a good positioning in the commercial and corporate segments,” said Rangam Bir, CEO Allianz-Tiriac Insurance.
Bir says the non-auto segment was the main growth driver last year, following the market trend.
The life insurance segment increased to RON 94.6 million last year.
Allianz boosted insurance for the retail segment last year: Casco gained 7 percent, property was up 4 percent, general insurance increased by 19 percent.
“We remain cautious in our expectation for 2012. We consider the stabilization of premium income as achievable, although the uncertainty that makes economies and financial markets has not faded out,” said Bir.
He added that Allianz Tiriac will pursue profit this year, also looking to improve yields in the insurance business.