General insurance decline affects Allianz' premiums in Romania but its profit goes up

Insurance company Allianz decreased its gross subscribed premiums by 4.4 percent in the first nine months of the year in Romania, to some EUR 152 million, as the general insurance segment witnessed a decline. General insurance gross premiums were down to EUR 135 million, from EUR 142 million the year before, while life and health insurance stayed flat at some EUR 17 million. The net premiums in Romania stayed at some EUR 119 million, a drop of 14 percent on the first nine months of 2011. The operational profit however managed to go up, from EUR 2 to EUR 3 million. Allianz is being run by Remi Vrignaud, who replaced Rangam Bir after a three – year mandate. editor@romania-insider.com