80m-euro premiums for Allianz-Tiriac

Allianz-Tiriac insurance company budgeted a 20% increase (in RON) in the volume of its underwriting for 2006 and the same profit as last year, despite problems in the car insurance sector. The first quarter of 2006 brought Allianz-Tiriac underwritten premiums worth 80.8 million euros from general and life insurance, a 33% increase against the same period of 2005, preliminary data of the company reveal. The increase in the life insurance segment stood at 200%, with the volume of premiums underwritten in the first quarter reaching 9.8 million euros. “In the following period, our priority will be the segment of life insurance, where a faster growth is necessary in order to compensate the fact that we entered this line of business sector rather late,” says Cristian Constantinescu, general manager of the company. The 33% growth pace seen in the first quarter will, however, not maintain over the course of the whole year, says Constantinescu. RCA (auto liability) policies and the insurance contract of Tarom”s fleet (which, according to company officials, is only a source of prestige, since all the premiums are transferred for reinsurance) significantly increased the company”s revenues derived from premiums, during the first three months of the year. ZF