In the first half of 2010, the company posted net profit of RON9 million and total revenue of RON203 million.
Ardaf’s underwrote premiums worth RON64.8 million in the first half, down 54% from the same period of 2010.
Car insurance policies accounted for the largest share of premiums: CASCO –RON27.66 million (down from RON54.16 million last year), RCA – RON23.04 million (down 72.3%). Fire and natural disaster insurance grew by 50.5% to RON10.32 million in the first six months of 2011.
Ardaf paid damage claims worth RON92.19 million, down 27.2% on the year, mostly for RCA (RON55.45 million) and CASCO (RON29.37 million) policies.
The company’s portfolio included 210,463 policies active at the end of June.
The insurer expects underwritten premiums to drop by 20.9% this year, to RON171.6 million, and to swing to a loss of RON3.16 million, according to its budget.
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.