Allianz-Tiriac underwrote premiums worth one billion RON, down 2.5 percent in first nine months

In the first 9 months of 2020, Allianz-Tiriac underwrote premiums worth over one billion RON, down 2.5% compared to the same period last year. The decrease was due exclusively to lower car and travel insurance sales, a natural trend given the impact of the new coronavirus on the car market and tourism.

On the other hand, significant increases in sales were recorded at the level of life, health and housing insurance. For example, life insurance increased by 20% in the first 9 months of 2020 and ended up generating 1 RON out of every 7 RON received from the total premiums.

“Beyond the negative medical, social and economic effects, the COVID-19 pandemic also brought changes that we managed to capitalize on and help our customers to protect what matters to them. The home has become more than just a place to relax and spend time with the family, it has become the main shield against the new coronavirus and has received more attention, including through insurance. At the same time, I noticed a greater interest in protecting life and health, followed by action of taking out insurance. These trends are gratifying, being the signal that we have the capacity to reduce the financial protection gap faster,” said Virgil Soncutean, CEO of Allianz-Tiriac.