OREANDA-NEWS. March 30, 2010. In 2009, the gross premium written by Allianz ROSNO Life equalled 722 mln. roubles, thus overriding the same period of the previous year 2008 by 31%. Insurance compensations equalled 119 million roubles.

According to the preliminary results of the year 2009, insurance premium written in life insurance equalled 643.4 million roubles, demonstrating a 30% increase versus the year 2008. As a result, the premium collected by Allianz ROSNO Life reached 4.09% of the total life insurance market. In accident insurance, the insurance premium written equalled 78.6 mln. roubles, representing a 37% increase.

In 2009, the company paid clients 102 mln. roubles under life insurance contracts and 17 mln roubles under accident insurance contracts.

Based upon the results of the evaluation conducted in late 2009, the rating agency Expert RA has raised the reliability rating of Allianz ROSNO Life to the highest level A++ ("Exceptionally High Reliability Level"). The major factors enabling higher reliability rating for Allianz ROSNO Life are: the company’s financial stability despite difficult market conditions, and the intention of the owner (Allianz New Europe GmbH) to maintain the capital volume necessary for business operations.

Regional development

The largest shares in the insurance premium written in 2009 pertain to the Central Federal Okrug (360 mln. roubles), Privolzhsky Federal Okrug (176 mln. roubles), and North-Western Federal Okrug (67 mln. roubles). As compared to 2008, business growth in the said regions equalled 30%, 45% and 32% respectively.

Product line

In 2009, Allianz ROSNO Life performed market launch of a number of new products, including the products unique for the market, and it also offered clients additional options under the already existing contracts.

The clients of Allianz ROSNO Life were able to use the option of indexing their insurance contributions, providing larger insurance contributions under the already existing contracts, with the corresponding increase in insurance amounts. In 2009, Allianz ROSNO Life developed new box products for the owners of ROSNO’s MOD and OMTPL policies — "Podushka Bezopasnosti" (Airbag) and "Remen Bezopasnosti" (Safety Belt), sold via ROSNO’s sales network. At the same time, the company presented a number of box products, to be sold via the company’s partner network, including banks. In addition, the corporate products of Allianz ROSNO Life have been modified towards better flexibility of insurance terms.

Customer service quality

In 2009, following its customer service quality improvement strategy, Allianz ROSNO Life launched a service whereby insurance contributions could be paid via the money transfer and payment system CONTACT, thus enabling the clients across Russia to pay insurance contributions in a simplified manner, without opening accounts and with no commission fees.

Mr. Maxim Chernin, CEO of Allianz ROSNO Life, commented on the results of the year 2009 as follows: "This year was a difficult one, and even a decisive one, for the majority of players in the life insurance market. We believe that Allianz ROSNO Life has managed to capitalize on the opportunities arising from the crisis. In 2009, the company not only preserved its pre-crisis business volumes by maintaining high level of prolongation of the existing contracts, but it also succeeded in growing its market share through winning new business and pursuing the strategy of sales channel diversification. Also, in 2009, we were one of the most innovative companies in the market, as we followed the market management principle, whereby the centre of business is the client and its current needs.

We will continue to pursue this strategy in the year 2010, which is expected to be as exciting as the previous year. In terms of expanding our agent network, we intend to focus on the key regions, where the life insurance market is most mature, and on those cities where the company has historically formed strong teams able to achieve impressive results. The company also plans active implementation of the project launched in 2008, providing for sales of life insurance products via ROSNO‘s sales network. Finally, we put large stakes on the sales via banks and other intermediaries, and we plan to enter partner relations with a number of the largest players of the Russian financial market, which, according to our forecasts, will bring about 30% of new business within the first year."