Allianz-Tiriac estimates it will underwrite 30 million euros' worth of premiums from life insurance in 2007, 20% more than last year, after witnessing a 14% decline, down to 8.4 million euros in the first quarter of 2007. "The annual projected budgets indicate that we will overshoot the 30 million-euro mark of revenues derived from gross underwritten life insurance premiums by the end of this year. This means we will continue to grow at a faster rate than the market, and we will manage to consolidate our position as one of the top three life insurance providers in Romania," stated Marius Onofrei, communication manager of Allianz-Tiriac Asigurari. The company posted a decline on the life insurance segment for the first three months of 2007, despite a 60% growth for the life insurance segment on the domestic market. "The demand for group insurance coming from employers, though obvious, is very volatile, and almost exclusively price-driven. At the same time, as far as insurance providers are concerned, competition is extremely strong. In many cases this has led to group insurance products being offered at less than the technical rates," Onofrei explained. Allianz-Tiriac Asigurari posted an operating income of 1 million euros in the first quarter of this year. Allianz-Tiriac Asigurari's life insurance revenues amounted to around 25 million euros in 2006, 33% more than in 2005, whilst the overall segment grew by 13%.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
