Underwritten non-life insurance premiums reached RON206.5 million in the first quarter of the year, compared to RON231.7 million in the same timeframe a year ago.
According to company data, Allianz-Tiriac has continued to strengthen its position on the retail segment. Thus, the company’s revenues from non-life insurance policies contracted by individuals have kept the trend set out in 2011.
“In the first quarter of the year, underwritten premiums saw a nearly 4% increase mainly backed by sales of mandatory car insurance policies RCA (+20%). The company also saw an increase in the number of insurance policies issued for private individuals, both on the segment of voluntary car insurance CASCO (+5%) and on the home insurance segment (+10%),” the company said in a press release.
Allianz-Tiriac general manager Rangam Bir said the decrease in revenues on the segment of corporate clients is a common trend for the entire insurance industry.
On the life insurance segment, Allianz-Tiriac reported sales of RON23.7 million in the first quarter, down by RON1 million compared to sales reported in the same period in 2011.
Bir also said Allianz-Tiriac expects an increase in underwritten premiums in the next quarters, adding the results obtained at the middle of the second quarter already point to a positive trend which justifies the company’s high expectations.
The company has a share capital of RON99.4 million. It is controlled by Allianz (52.16%) and Vesanio Trading Limited (44.48%), owned by Romanian businessman Ion Tiriac. (EUR1=RON4.4421)