Allianz-Tiriac sees 220m-euro sales

The Allianz-Tiriac insurance company expects to have underwritten 220 million euros at the end of this year, which means a 23% growth on 2004. The company officials did not publicly reveal the profit figures, but say they intend to maintain the profitability rate of last year, that is a figure of some 6%. “We are above the profit target,” stated Cristian Constantinescu, the general manager of the company. If it were to maintain the same profitability as in 2004, Allianz-Tiriac would conclude the year with some 13.2 million euros in profit, about 31% higher than at the end of last year. General insurance is expected to generate some 203.5 million euros in revenues from gross underwritten premiums. Auto liability policies will generate a further 17 million euros this year. ZF