IC Allianz ROSNO Life Demonstrates 54% Business Growth in Q1 2009
OREANDA-NEWS. On 04 June was announced, that for Allianz ROSNO Life, gross premium written in the first 3 months of 2009 equalled RUR 141 mln, showing 54% growth as compared with the same period of 2008. Insurance compensations equalled 22 million roubles.
In Q1 2009, gross premium written in life insurance equalled 131 million roubles, demonstrating an increase by 61%. In accident insurance, gross premium written equalled 10 mln roubles.
In Q1 2009, Allianz ROSNO Life paid clients 17 mln roubles under life insurance contracts and 5 mln roubles under accident insurance contracts.
In Q1 2009, major contribution to the premium collected by Allianz ROSNO Life in Q1 2009 was made under accumulative life insurance contracts "Stil Zhizni" (Lifestyle) with 18 years being an average contractual term (47% of the amount of premium collected). The share of pension insurance "Dolgoletie" (Longevity) in the aggregate insurance premium collected equalled 24%, followed by life insurance to the children’s benefit "Podarok Rebyonku" (Gift to a Child) (15%), fixed-term life insurance "Azbuka Zaschity" (ABC of Protection) (12%), and accident insurance "Risk Control" (2%).
From January to the end of March 2009, rouble-denominated contracts accounted for 30% of the aggregate premium, USD-denominated contracts accounted for 61%, euro-denominated contracts accounted for 2%, and multicurrency policies accounted for 7% of the premium.
At the end of the reporting period, the company’s assets equalled 1,258 mln roubles, indicating a 15% increase versus the end of the same period of 2008. Reserves of Allianz ROSNO Life reached 869 mln roubles. Equity is 95 million roubles. The company’s authorized capital is 111 million roubles.
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