Allianz Zagreb reported today that in the first nine months of this year, it achieved a total gross premium income of 750.9 million kuna, which is a decrease of 10.3 percent compared to the same period last year, but also a strong increase in profit, with gross profit amounting to 41.1 million kuna.
The achieved profit is the result of successful cost management, maintaining satisfactory portfolio quality, and good investment results, the statement notes. Allianz emphasizes that the solvency margin of this insurance company has increased compared to the semi-annual results and now stands at nearly 168 percent (the legal minimum is 100 percent). The CEO of Allianz, Boris Galić, emphasizes that the results after nine months show that Allianz has a very solid foundation for good and positive business. “We are satisfied with the company’s profit despite the burden brought by unplanned state levies. We achieved a good investment result, enabled by high interest rates on deposits, and so far there have been no major and catastrophic damages.
I would also like to add that the collection is satisfactory, given the market circumstances,” comments Galić, who expects Allianz to finish this “difficult business year with solid results.” By insurance segments, Allianz Zagreb states that in the first nine months of this year, non-life insurance premiums amounted to 514.2 million kuna, which is a decrease of 4.7 percent compared to the first nine months of last year. Given the high share of motor vehicle insurance premiums in the total non-life insurance premium and the trend of declining sales of new vehicles and a significant number of uninsured vehicles, a lower premium in the segment of motor liability and casco insurance was expected, Allianz points out.
