Allianz-Tiriac announced that its gross written premiums (GWP) rose by 11% y/y to RON1.7bn (EUR 340mn) in H1, accelerating from the 4% y/y advance reported in Q1.

Furthermore, the insurer reported its net profit reached RON186mn, nearly 11% of GWP – twice as high as the average ratio for the insurance market last year.

The result was achieved in the context of a significant (+22% y/y) rise in the compensations paid to its customers (RON 600mn).

Life insurance sales increased by over 17% in the first half of 2023 and came to represent 10% of Allianz-Ţiriac's total subscriptions. Life insurance is growing consistently as a result of increased attention both in the area of ​​products and services, as well as in terms of distribution. At the end of June 2023, approximately 170,000 people benefited from Allianz-Ţiriac life insurance, increasing by 22% compared to 2022.

(Photo: the company)

iulian@romania-insider.com