“Unit-linked segment will be the most affected, as a part of the clients buy back policies before the maturing date, with the risk of losing money. Another drawback of this is that this type of policies will not be for sale anymore,” Junker said, informs NewsIn .
He added that these are not the best solutions of buying back policies when they are at their lowest threshold.
“It is not the best thing to run away from the market when prices are down and to get back on track when they are fully charged. We must profit from the fact that the train is still in station and we must catch it,” Junker added.
On the Romanian market, international financial crisis hit the capital market financial tools that were based on investments in stock exchange such as mutual and hedge funds. Index of the most liquid shares listed lost 50% since the beginning of this year while index of five financial investment companies dropped more than 60%.
Allianz-Tiriac Asigurari targets EUR 440 million in gross premiums, up by 19% from 2007 and a EUR 10 million revenue.
In 2007, Allianz-Tiriac posted underwritten gross premiums worth EUR 371 million, up 71% from previous year, and RON 31.89 net profit, compared to EUR 31.12 million in 2006.
In order to make the aimed profit, Allianz-Tiriac insurer will focus on risk management by portfolio division, and defaults clean-up management, Constantinescu pointed out. He explained that Allianz Tiriac bets on profit rather than increasing market share.
“It is most likely to exceed projections for underwritten gross premiums on general insurance segment of EUR 400 million, in the actual international gloomy context,” Constantinescu mentioned, adding that on life insurance sector the company will underwrite EUR 37 million worth policies.
Translated and adapted by Camelia Oancea.
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