Allianz's half-year premium value up 52% from last year

Last year, the insurance company Allianz was slowly recovering from the losses that were caused by previous years of substantial investment and growth. In the property insurance sector, the company recorded a 52% increase in the value of premiums to zł. 373 million for the first half of the year. "The mid-year results were mainly boosted by the first quarter. In the case of car insurance, this was caused by lowering the premiums and having a good product. In the case of SMEs, it was caused by constant improvement of insurance conditions, while in the industrial sector, it was caused by entering the energy sector," explained Andrzej Burża, deputy president of Allianz Życie and Allianz Polska. The life insurance branch, Allianz Życie, has recorded an even better result, as its premiums grew by 59% to zł. 132 million. According to Burża, the good result was caused by bank assurance co-operation with Pekao SA and substantial incentives given to agents. He also added that he expected that the two firms would record a positive net result of a few million złoty at the end of 2003. (Puls Biznesu, p. 7) M.M.