Yield on IC Allianz ROSNO Life Policies Equals 9,7% in 2009
OREANDA-NEWS. May 13, 2010. The successful investment operations of Allianz ROSNO Life in 2009 enabled the company to announce factual yield for accrual of an additional investment income under the policies with an investment component at 9.7% p.a. for the policies denominated in roubles and 7.2% p.a. for the policies denominated in US dollars and euro, reported the press-centre of ROSNO.
The factual yield also includes the guaranteed rate of return contemplated by the effective insurance contract.
Mr. Alexei Rudenko, Deputy CEO of Allianz ROSNO Life, commented on the results of the company’s investment operations in 2009 as follows: "The year 2009 turned to be a challenging year for the financial market, and the main objective of Allianz ROSNO Life was to prove our clients once again that life insurance is the most reliable financial instrument enabling to guarantee safety of invested funds in any situation, as well as to get capital gains. In its investment strategy, Allianz has always been guided by the principles of diversification and minimal degree of risk, and, given that the year 2009 was dominated by crisis, such approach became a cornerstone of success. In 2009, Allianz ROSNO Life eliminated stocks from the structure of its investment portfolio, while retaining large share of investments in federal securities and municipal bonds (43%), corporate bonds (18%) and deposits placed with reliable prime-rated banks (35%). Furthermore, this year we, for the first time, announced different yields for rouble-denominated and currency-denominated policies. As a result, the yield on rouble-denominated policies grew to 9.7%, as compared to 6.2% in 2007 and 7.5% in 2008, becoming the highest yield in the company’s entire history. The yield on currency-denominated policies equalled 7.2%. Despite the considerable decrease in the market interest rates on currency-denominated assets in 2009, we managed to retain high currency yield for our clients, which remained virtually unchanged as compared to the year 2008. Such result has become possible due to the consistent implementation of the asset duration management strategy".
Allianz ROSNO Life’s life insurance reserves investment strategy is oriented towards stable long-term positive results. This strategy contemplates the following:
strict requirements to the structure of investment portfolio and credit quality of security issuers and banks;
controlling parity between its assets and liabilities in terms of maturity and currency structure;
regular monitoring and analysis of market conditions;
taking measures aimed to increase yield on investment portfolio while observing the risk-related restrictions.
The investment operations conducted by Allianz ROSNO Life strictly conform to the RF legislation and embrace the expertise accumulated by Allianz. This investment strategy is implemented with the help of the professional securities market player, MC Allianz ROSNO Asset Management, a member of ROSNO Group.
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