OREANDA-NEWS. November 20, 2009. Allianz ROSNO Life still shows high rate of insurance portfolio growth, similar to the pre-crisis period of the year 2008. For the nine months of 2009, gross premium written exceeded 480 mln roubles, thus overriding the same period of the previous year by 35%. Insurance compensations equalled 91 million roubles, reported the press-centre of ROSNO.

In the 3 quarters of 2009, the insurance premium written in life insurance equalled 419 million roubles, demonstrating an increase by 29%. In accident insurance, the insurance premium written equalled 62 mln roubles, representing a 102% increase.

In the 9 months of 2009, Allianz ROSNO Life paid clients 77 mln roubles under life insurance contracts and 14 mln roubles under accident insurance contracts.

At the end of the reporting period, the company’s assets equalled 1,371 mln roubles, indicating a 40% increase versus the end of the same period of 2008. Reserves of Allianz ROSNO Life reached 890 mln roubles. Equity is 411 million roubles. The company’s authorized capital is 111 million roubles.

Mr. Maxim Chernin, CEO of Allianz ROSNO Life, commented on the results of the 9 months of 2009 as follows: "The last period has been quite uneasy and rich in events across the life insurance market. The market volume shrank by over 25% as compared to the same period of the previous year, and the industry lost two big international players — Fortis Life Insurance and ING Life Insurance, which ceased to operate in Russia. Therefore, we are especially proud that, in such difficult market conditions, we have been able to continue strengthening our positions as the leading players, increasing our premium collected by 35%. For us, an important event has been the achievement of an agreement with ING Life Insurance on transferring the latter’s insurance portfolio to Allianz ROSNO Life for further support.

In the 3rd quarter, Allianz ROSNO Life also continued pursuing the target strategy of sales channel diversification and development of exclusive products best meeting the needs of specific client segments and distribution channels. The company has renewed its line of corporate products, and it has developed a number of box solutions for sales via ROSNO’s network and launched special programs for partnering banks. As a result, we have significantly increased the share of sales made via ROSNO’s network, with the latter now accounting for a quarter of the company’s new business; and we have also made a number of important steps aimed at intensive growth of sales via intermediaries — above all, banks. We have also achieved notable growth in the corporate segment, enabling us to make rapid entry into the group of major players in the segment. Several months before Christmas are generally regarded as most successful in terms of life insurance operations, and Allianz ROSNO Life is no exception. Therefore, we expect that business volumes will be even higher in Q4".