May 30 (SeeNews) - Romanian insurer Allianz-Tiriac said that its gross written premiums (GWP) increased by 4% on the year in the first three months of 2023, reaching to 848 million lei ($182.6 million/170.8 million euro).
The company's net profit amounted to 79.1 million lei in the first quarter, compared to 42.4 million lei recorded in the like period of 2022, Allianz Tiriac said in a press release on Monday.
Premiums subscribed for home insurance increased by an annual 25% in the first quarter, in part due to the earthquakes which hit Romania in February, the company said. At end-March, more than 400,000 individuals and companies had their houses, buildings, and assets insured by Allianz Tiriac.
Life insurance premiums grew by almost 20% year-on-year during January-March, while health insurance premiums saw a 30% increase.
Payments to clients in the form of compensations and allowances totalled 292 million lei in the first three months of 2023, compared to 232.2 million lei in the like period of 2022.
Allianz-Țiriac ranked second biggest among Romanian insurers at the end of 2022, with a 17.4% market share, after Groupama Asigurari, according to the country's financial regulator, ASF.
(1 euro=4.96260 lei)
Allianz-Tiriac Asigurari SA is among the biggest insurers in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here