Allianz-Tiriac Romania sees thinner revenues but more interest for life, home insurance

Allianz-Tiriac, one of the biggest insurance companies in Romania, announced on Tuesday that it sold insurance worth RON 1 bln (EUR 206 mln) in the first nine months of this year.

However, the amount is 2.5% lower than in the same period last year. The insurer notes that the decline was due solely to the lower car and travel insurance sales, a natural trend given the pandemic's impact on the car and tourism market.

In recent months, the company has launched a series of new products and digital services to meet the changing needs of customers and adapt to the context generated by the coronavirus.

"Beyond the negative medical, social, and economic effects, the COVID-19 pandemic has brought changes that we have managed to capitalize on and help our customers protect what matters to them. The home has become more than just a place to relax and spend time with the family. At the same time, we noticed a greater interest in protecting life and health, followed by action by taking out insurance," said Virgil Soncutean, CEO of Allianz-Tiriac.

(Photo source: the company)