Allianz lowers profit but raises market share
Article Abstract:
Allianz pojistovna (Prague, Czech Republic), insurance firm, expects a profit of several dozens of millions of Czech crowns for 2000. In 1999 it saw a profit of CEK 115.4 mil. Reasons for the profit drop were investments in its motor liability insurance services, distribution network and computer technology. The company prescribed premiums worth CEK 6.25 bil in 2000, nearly a double compared to 1999. The main reasons for the growth were the end of the monopoly of motor liability insurance and an increase in the sales of life insurance. The firm prescribed life insurance worth CEK 1.04 bil in 2000 compared to CEK 650 mil in 1999. Its non-life insurance volume was CEK 5.21 bil in 2000 compared to CEK 2.55 bil in 1999. At the end of 1999, the insurance firm won more than 600,000 vehicles within the de-monopolization.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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CS-Zivnostenska Pojistovna unprofitable
Article Abstract:
CS-Zivnostenska pojistovna (CSZP) (Pardubice, Czech Republic), insurance company, saw a loss of CEK 219.7 mil in 2000 compared to a loss of CEK 48 mil in 1999. According to CSZP's management, the main cause of the 2000 loss was an inrease in compensations. CSZP prescribed premiums of CEK 3.022 bil in 2000, up 39% from 1999.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
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