ARDAF gains in constructions but loses in auto sector

ARDAF’s total premiums collected in Q1 exceed 175bn lei. This is only a 20.25% increase, compared with the same time last year, which increase does not cover the circa 40% inflation.

Company shareholders agreed upon the main goal for this year to be collecting some 574bn lei in premiums, that is nearly 60% more than 2000’s total premiums.

ARDAF is now going through a time of restructuring for its insurance portfolio, in line with the company’s development strategy, therefore its car insurance-related premiums slightly decreased in Q1, 2001 as compared to the same time in 2000.

“This decline is compensated by the significant increase in premiums collected from other types of insurance,” Monica Dragu, ARDAF marketing and development manager and spokesperson, told Ziarul Financiar.

ARDAF’s most successful products in Q1 were constructions insurance, as the total premiums collected during this period were 755% higher than the year-ago period.

The sales of CARGO policies went up 95%. ARDAF is trying to gain more ground on the life insurance market, where it sold only three billion lei’s worth in policies in 2000.