Allianz-Ţiriac regains top spot as general insurer

Moreover, Allianz-Ţiriac managed to regain first place on the general insurance segment, which it lost at the end of the first quarter to its competitor, Omniasig. In the past two financial exercises, namely 2007 and 2008, Allianz-Ţiriac registered gross profit of RON 42.2 mln and RON 35.5 mln, respectively, considering that, at the general level, the insurance market posted net losses worth RON 253 mln and RON 576 mln.

“For some time now, the insurance market has been registering losses, which become higher year-on-year. And the year 2009, especially since this will be a peak year in terms of the manifestation of the effects of the economic crisis, cannot produce changes in this trend,” the company’s General Manager, Cristian Constantinescu, said.

Revenues from Allianz-Ţiriac’s general insurances amounted to RON 628.4 mln (€148.5 mln), 2.7 percent less than in H1 2008. The auto business lines continue to make up the main share of the insurer’s portfolio. No-fault insurance policies (Casco) totaled RON 374.1 mln (€88.4 mln), while revenues from the compulsory motor third party liability insurance (RCA) amounted to RON 116.1 mln (€27.4 mln).