Business of EUR 106 million for ALLIANZ-TIRIAC; the portfolio's claim rate improved in the first semester

8 August 2013 —
allianz6ALLIANZ Group's business in Romania maintains its tendency of stabilization after the first half of 2013, ALLIANZ-TIRIAC Asigurari closing the first semester with underwritings reaching EUR 106 million, EUR 1 million more compared to the same period last year. The operational profit in the first six months remained at EUR 3 million - EUR 1 million on life insurance and EUR 2 million on non-life insurance, indicating the improving of the underwritings results and of the claim rate on the non-life insurance segment.

On the non-life insurance segment, the company underwrote the same premiums volume as in S1/2012 - EUR 93 million, the results published by the ALLIANZ Group indicating an improvement by 6 percentage points of the claims rate, up to 72.4% which, despite an increase of the cost rate, had a positive influence on the combined rate, which reached 102.9%, hence influencing the profitability on the first semester. The net technical loss on the non-life portfolio decreased to 2.9% from 4.4% in the first half of 2012.

As far as the life insurance business of the third largest insurer in Romania is concerned, it increased by 8.3%, up to EUR 13 million in the first half of 2013, according to the Group's report.

Share |