Allianz 16. 06. 21.

In the first half-year of 2014 Allianz Ukraine Insurance Company maintains business growth rate at the level of 30 percent

In the first half-year of 2014 gross premiums written (GPW) of Allianz Ukraine amounted to UAH  127.6 million compared to UAH 97.7 million in the respective period of 2013 which corresponds to an increase of 30.65 percent. For the third quarter in the row motor insurance remains the main driver of portfolio growth (+224 percent).

As of 30.06.2014 the largest share of portfolio comes from motor insurance – 31.3 percent. Almost equal shares have property and casualty insurance and personal insurance (excluding life insurance) – 23.3 percent and 23.1 percent respectively. Other 13.2 percent of premiums come form Marine, Aviation and Transport insurance and 9.1percent – from voluntary third party liability insurance.

In the first half-year of 2014 Allianz Ukraine managed to slightly reduce the impact of the economic situation in the country and the devaluation of the hryvna on the financial results of the company. The reporting period ended with an operating loss of UAH 11.0 million (for the first six months of 2013 operating profit amounted to UAH 5.6 million).

In H1 2014 Allianz Ukraine paid to its customers UAH 32.7 million of insurance indemnities that is by 47.6 percent more than in the respective period of 2013 (UAH 22.1 million). This dynamics is still impacted by the large indemnity paid under cargo insurance agreement in the Q1 2014, but its effect is far less significant.

The main share of payments was paid under personal insurance agreements (excluding life insurance) – 43.5 percent. Also the company paid out 32.3 percent of payments under motor insurance agreements, 19.9 percent under Marine, Aviation and Transport insurance agreements and 4.3 percent under property/casualty insurance agreements.

As at the end of the reporting period insurance reserves amounted to UAH 210.2 million.

“The first half of 2014 was very difficult for both clients and insurers. Under these conditions we put a lot of effort to increase public confidence in insurance, try to make interaction with our company as transparent and understandable as it is possible and develop the quality of service. For example, on our website the customer can see the conditions of the contract, calculate the final price of the policy and pay for it online. In addition, we have begun to measure the satisfaction of the clients not only on the stage of claim handling, but also after the purchase. We believe that high-quality service is an integral component of a reliable insurance company, so we are ready to invest in making our clients feel more comfortable with us”, - commented Garry Andreasyan, CEO of Allianz Ukraine.