Allianz-Țiriac reported sales of 2.7 billion RON, up 6 percent in the first nine months

After the first 9 months of 2024, Allianz-Tiriac Asigurari reached a sales volume of 2.7 billion RON, up 6 percent compared to the same period last year. Total gross claims expense increased by 30 percent and approached 2 billion RON at the end of September 2024.

“In 2024, we continued our growth trajectory and amplified our contribution to supporting the Romanian economy. Through attention, perseverance and hard work, we managed to capitalize on opportunities in the life and health insurance area, which have become the most important optional business line in our portfolio. Life and health insurance has been growing rapidly for six years at Allianz-Țiriac, an evolution that confirms the need and interest for protection, but also the sustained effort of the entire team and our distribution partners. The year 2024 marks the anniversary of 30 years of activity of Allianz-Țiriac on the insurance market in Romania, a period in which we contributed 20 billion euros to support the local economy and our individual and corporate clients”, said Virgil Șoncutean, CEO of Allianz-Țiriac Asigurări.

Life insurance continues to be the star of the Allianz-Țiriac portfolio. Life insurance subscriptions increased by 20 percent in the first 9 months of 2024 compared to the same period in 2023.

Health and home insurance complete the podium of increases in terms of subscriptions, with an advance of approximately 14 percent and 13 percent, respectively, in the first 9 months of 2024.

In the auto insurance line, subscriptions advanced by 4 percent, an expected growth rate in the first year after the market redistribution following the bankruptcies in the RCA sector.