The evolution of profit was influenced by a negative impact of EUR1.3 billion against the backdrop of the Covid19 pandemic.
The operating profit target for 2021 was set at EUR12 billion, plus/minus EUR1 billion.
The solvency rate was 207%, per the group’s financial report.
Allianz operates in Romania through Allianz-Tiriac, the second largest insurance company on the Romanian market. The company ended the first nine months of 2020 with underwritings of over RON1 billion, down 2.5% from the year-earlier period.
In December 2020, Allianz-Tiriac signed an agreement with German Gothaer Group to acquire 100% of its Romanian subsidiary Gothaer Asigurari Reasigurari, which is Allianz-Tiriac’s first acquisition after 25 years of organic growth.