OREANDA-NEWS. September 09, 2013. In the first 6 months of 2013, total insurance premium collected by Allianz subsidiaries in Russia (IC Allianz, Allianz Life, Medexpress and ROSNO-MS) grew by 10.7% (under IFRS) to 17,744 mln. roubles.

The most intensive growth among the Group companies was demonstrated by IC Allianz whose premium collected in the reporting period grew by 13.7% to 15,645 mln. roubles vs. 13,760 mln. roubles in the first half of 2012.

A significant contribution to the growing business of IC Allianz was made by motor insurance. The company’s MOD insurance is outpacing the market, with premium growth vs. the first half of 2012 equaling 27.9%. In the reporting period, OMTPL insurance increased by 15.1%, VMTPL by 84.3%, and Green Card insurance by 22.6%.

VMI insurance premiums grew by 11.2%, reaching 4,324 mln. roubles.

The premium collected in the travellers’ insurance segment grew by 2.9% to 243 mln. roubles.

Also, the company increased its premium collected thanks to the expanding sales in maritime and aviation risk insurance (increase by 32.3%), agricultural insurance (increase by 22.2%) and liability insurance (increase by 1.9%).

All financial risk insurance segments demonstrated sizeable growth. For example, borrower insurance premium collected grew by 44.3%. Mortgage insurance also increased by 8.4%.

Partner sales channel remains the driver of business growth, with y/y growth equaling 24%. Positive results are attributed, above all, to the growing sales via banks and car dealers. Also, sales increased in the corporate channel (+7%) and agent channel (+3%).