eastern lifeEUR 65 million profit for ALLIANZ in CEE

The total value of gross written premiums of ALLIANZ in Central and Eastern Europe has slightly exceeded the EUR 1 billion level, compared to EUR 1.115 billion in the first quarter of last year. The 5% decrease is largely attributed to the life and health insurance segment, which benefited last year from the effects of growth exhibited by some of the markets. The operating profit remained at the previous year level of EUR 65 million.

eastern lifeEUR 65 million profit for ALLIANZ in CEE,Business evolution of companies members of the ALLIANZ Group in the CEE region is in line with our expectations. We see a slow stabilization of markets in the region after the financial crisis, and now clients are seeking a reastern life and health insurance companyeliable and stable partner. These are important values for us and we see they are acknowledged and valued, byeastern lifeEUR 65 million profit for ALLIANZ in CEE the continuous increase of our customer base, commented Manuel BAUER, a member of the Board of ALLIANZ SE, responsible for developing markets.

If you are logged on and you do not fill in your name, will be used the name that you used when you registered

Premiums on life and health insurance segment decreased by 15.1%, reaching a value of EUR 283 million, compared with the amount of EUR 333 million corresponding to the same period a year earlier. Compared to the fourth quarter of 2010, the businesses of life and health insurance segment registered a growth of 25%.

Pension funds and assets management segments maintained the growth trend, the value of assets under management increasing to EUR 9.1 billion, growth supported by all markets in the region. The difference of approximately EUR 605 million shows an increase of 7% compared with the level recorded at the end of 2010.

on 30.05.2011

General insurance segment amounted to EUR 774 million in the first quarter of 2011, compared with EUR 782 million, the value for the corresponding period a year earlier. Adjusted with exchange rate effects, the premiums level on general insurance segment dropped by one percent.

The regions combined ratio improved, reaching 95.6 percent in the first quarter of 2011, compared to the 96.0 percent value recorded in the corresponding period of 2010.

Leave a Reply