The decline in total sales was due to a decline in the general insurance business, mostly on the travel insurance segment affected by the COVID-19 crisis, and to a decrease in underwritings from car insurance policies.
Home insurance underwritings grew 11% and life insurance sales saw the biggest growth rate in 2020, of nearly 14%, in the context in which underwritings at market level declined in 2020.
Damage claim payments totaled RON695 million in 2020.
In December 2020, Allianz-Țiriac Asigurari signed an agreement with German Gothaer Group to acquire 100% of its Romanian subsidiary Gothaer Asigurari Reasigurari. This is Allianz-Tiriac’s first acquisition after 25 years of organic growth. The transaction is subject to the approval of the local authorities.