Allianz-Tiriac disburses 3.3m-euro dividends

Allianz-Tiriac, the number one on the Romanian insurance market, disbursed dividends for last year worth 12 million RON (over 3.3 million euros) to shareholders, according to the information released by the company. The company’s shareholders are Germany’s Allianz (51.62%) and Vesanio Trading Ltd. offshore with a 44.01% stake, held by businessman Ion Tiriac. Of the 36 million RON (10 million euro) net income derived last year, more than 4.6 million RON (1.3 million euros) were used to increase the share capital, which thus came to 35 million RON (almost 10 million euros). At the same time, the company’s employees received shares in the profit worth 3.8 million RON (1 million euros). Just like in previous years, more than half of profit will be used for the financing of the company’s development projects, with the most important of these being the setting up of a private pension management company. Allianz-Tiriac in the first five months of this year posted gross underwritten premiums worth 128 million euros. The company has 170 territorial branches and 1,750 employees.