Insurer Allianz-Tiriac posts 15% premiums decrease in Romania in first half of 2011

Insurer Allianz-Tiriac Asigurari recorded gross written premiums of EUR 110 million (RON 460.3 million) in the first half of 2011, down 15 percent compared to same period in 2010, according to the company. The company's profit before tax amounted to EUR 1.3 million (RON 5.5 million), calculated in accordance with the International Accounting Standards (IFRS). In the first six months of 2011, the gross written premiums on the general insurance segment were of EUR 98 million (RON 410 million), down 17 percent than the same period in 2010, while the non-auto insurance continued the upward trend, registering a cumulative growth of about 5 percent. The life insurance business had a positive evolution. The gross written premiums had an increase of 8 percent to EUR 12.2 million (RON 50.6 million) in first half of 2011, according to the company. Irina Popescu, irina.popescu@romania-insider.com (photo source: Allianz)