Last year, Allianz-Tiriac Asigurari underwrote general and life insurance premiums totaling RON990.8 million, up 7% from 2013, and its operating profit rose by more than 75%, to approximately RON50 million.
“2014 was certainly a good year for Allianz-Tiriac. We managed to grow profitably and develop healthily. Moreover, we continued to take steps forward to improve quality of service and we plan to continue efforts to become more accessible to our customers,” said Vrignaud.
General insurance revenues grew 7.7% in 2014, to RON886.7 million. Car insurance, both mandatory and voluntary, totaled underwritings of RON632.9 million last year, up 8.3%. Non-auto general insurance rose 6%, to RON253.8 million last year.
Allianz-Tiriac paid damage claims on general insurance totaling RON415.7 million.
On the life insurance segment, the company had underwritings of RON104.1 million in 2014, comparable to the 2013 level of RON102.8 million. The company’s life insurance portfolio remained balanced, as traditional insurance accounted for 53% and unit-linked policies for 47%.
With a share capital of RON99.4 million, the Romanian insurance company is owned by Germany’s Allianz – 52.16% and Cyprus-registered Vesanio Trading Limited, owned by Romanian businessman Ion Tiriac, – 44.48%.