Allianz-Țiriac achieves 7.1% business growth in the first half of 2024

Allianz-Țiriac Asigurări, the biggest insurer in Romania, reported total gross written premiums of over RON 1.8 billion (EUR 362 mln) in the first half of 2024, up 7.1% compared to the same period in 2023.

This substantial growth was largely driven by the life insurance segment, which saw a 22% increase, positioning it as the most dynamic line in the company's portfolio.

Health and home insurance premiums grew by approximately 16% and 12%, respectively. Meanwhile, motor insurance premiums rose by 6%, with the average claim increasing by about 20% compared to the same period in 2023.

In terms of claims, Allianz-Țiriac recorded a notable increase in expenditures, with total gross claims reaching over 1.2 billion, a 35% rise from the previous year. The company paid out more than RON 725 million directly to insured clients, along with setting aside over RON 460 million in reserves for future claims, ensuring that it meets its ongoing commitments.

Allianz-Țiriac's CEO, Virgil Șoncutean, highlighted the company's ongoing mission to offer reliable support during challenging times.

"Our mission is clear: we offer support and confidence when difficulties arise," he stated, adding that the positive financial results at the midpoint of 2024 confirm the company's successful strategy.

(Photo source: the company)