Ardaf's gross subscribed premiums go down 13.5% to EUR 33 million

Insurance company Ardaf posted a volume of gross subscribed premiums of EUR 33.2 million (RON 141.1 million) in the first half of the year, which was down 13.5 percent on the same period of last year. However, the company managed to post a profit of EUR 2.1 million (RON 9 million). The travel insurances for foreign destinations saw a more than three-fold increase, along with insurance for railway means – which were double, and the general civilian responsibility insurances, up 11 percent. Ardaf paid out around RON 2 million (the equivalent of EUR 471,000) in damages for fire and natural calamities in the first six months of the year, which was four times higher than in the same period of last year. The company will focus on home insurance for the second half of 2010 and in 2011, considering the recently introduced mandatory home insurance policy. Ardaf is part of Generali PPF Holding. The company posted EUR 77 million of gross subscribed premium last year, ranking ninth among locally active insurers, with a market share of 3.6 percent.