Allianz-Tiriac accelerates in Q2, GWP up by 11% y/y in H1
Allianz-Tiriac announced that its gross written premiums (GWP) rose by 11% y/y to RON1.7bn (EUR 340mn) in H1, accelerating from the 4% y/y advance reported in Q1.
Furthermore, the insurer reported its net profit reached RON186mn, nearly 11% of GWP – twice as high as the average ratio for the insurance market last year.
The result was achieved in the context of a significant (+22% y/y) rise in the compensations paid to its customers (RON 600mn).
Life insurance sales increased by over 17% in the first half of 2023 and came to represent 10% of Allianz-Ţiriac's total subscriptions. Life insurance is growing consistently as a result of increased attention both in the area of products and services, as well as in terms of distribution. At the end of June 2023, approximately 170,000 people benefited from Allianz-Ţiriac life insurance, increasing by 22% compared to 2022.
(Photo: the company)