The company’s best selling policies were voluntary car insurance CASCO policies – RON27.66 million, from RON54.16 million in the first half of 2010, followed by civil liability car insurance RCA policies – RON23.04 million, down 72.3% compared to the January-June 2010 interval.
Property insurance against fire and natural disasters increased 50.5% to RON10.32 million in the analyzed period.
Indemnities paid to clients dropped 27.2% to RON92.19 million.
Ardaf started activity on the Romanian market in 1992 and is owned by Generali PPF Holding, which took it over in June 2008 by buying a 72.75% stake from PPF Alpha Limited.
Ardaf has a share capital of RON44.77 million, after shareholders lowered it by RON358.15 million in March this year. Ardaf is expected to complete its merger with Generali Romania by the end of 2011.
For this year, Ardaf estimates underwritten premiums will decline 20.9%, to RON171.6 million, and expects to register a loss of RON3.16 million.
Last year, the insurer managed to swing to a RON266,579 profit, from a loss of RON90.51 million posted in 2009, while its revenues from underwritten premiums declined 33.6%, to RON217.14 million. (EUR1=RON4.2609)