Allianz Ukraine Named Most Reliable Insurance Company
OREANDA-NEWS. November 2, 2010. Allianz Ukraine Insurance Company has become number one in the insurer reliability rating introduced by Focus magazine. All companies that took part in the rating were analyzed by a range of criteria, which, according to the editorial staff, for the insurer's reliability. Focus has developed special methods for assessment of insurance companies. The key factors that affected total points were: principal owner of the insurance company, shareholder's or company's international stability rating, insurance portfolio structure, insurance premiums collected, indemnities paid out, indemnities to premiums ratio, obligatory reinsurance partners and network in Ukraine. In addition to the fact that the shareholder of Allianz Ukraine Ins.Co. is Allianz SE – one of the leading insurance and financial services suppliers in the world with АА reliability rating according to Standard and Poor’s, Allianz Ukraine's high appraisal was significantly affected by the company's portfolio structure. The portfolio was recognized as well-balanced. By results of the 6 months 2010, property insurance amounted to 44%, motor hull insurance – 14%. According to the Focus magazine method, the highest point was assigned to the company, in whose portfolio the share of other property insurance types considerably exceeded the share of motor hull insurance. This is explained by the fact that a rather high loss ratio of auto insurance weakens position of the players specialized exclusively in this type of insurance. Allianz
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