OREANDA-NEWS. April 17, 2009. According to the performance results for the year 2008, gross insurance premium written of IC Allianz ROSNO Life equalled 558 mln roubles, demonstrating an increase by 39.5% versus the year 2007, while insurance compensations amounted to 36 million roubles, up 36% against the year 2007 (Under IFRS), reported the press-centre of ROSNO.

In 2008, the company launched a number of new products, offered additional options within the existing programs, and expanded its geographical presence in all Russian territorial subjects. The national rating agency Expert RA has assigned the insurance company Allianz ROSNO Life an A+ reliability rating ("Very High Reliability Level").

Financial performance results
In 2008, the volume of insurance premium written by Allianz ROSNO Life exceeded the same indicator for the year 2007 by 39.5%. In the life insurance field, insurance premium equalled 503 mln roubles, showing a 34% increase. In the accident insurance field, the insurance premium written equalled 55 mln roubles, representing a 37% increase.

Over a period of 12 months of 2008, Allianz ROSNO Life paid clients 24 mln roubles under life insurance contracts and 12 mln roubles under accident insurance contracts.

In 2008, Allianz ROSNO Life concluded 8,956 contracts, which is 17% above the same indicator for the year 2007. 43% of those contracts are long-term life insurance contracts concluded for over 20 years.

The reserves of Allianz ROSNO Life reached 755 million roubles.

The company’s authorized capital is 111.277 million roubles.

Product line
In 2008, the company’s product line was broadened. Allianz ROSNO Life offered its clients new options within the already existing programs.

For example, the company extended the list of risks covered by the accumulative life insurance program "Lifestyle" and fixed-term life insurance "ABC of Protection", added protection against the risk "Initially Diagnosed Critical Disease" covering 12 diseases, such as cancer, heart attack, ablepsy, etc.

Pursuant to the strategy promoting sales via intermediaries, Allianz ROSNO Life has developed a box product — fixed-term life insurance without accumulative and investment components, to be sold by banks and salon brokers.

Taking into account the clients’ needs in the times of crisis, Allianz ROSNO Life launched a new option — "Multicurrency Basket" within all existing programs, except accident insurance, making it possible to conclude life insurance contracts possible in several currencies at once.

Customer service quality
In accordance with its strategy of improving customer service quality, in 2008, Allianz ROSNO Life opened a single call centre consulting clients on insurance terms and programs, on conclusion, extension and termination of contracts, and on loss settlement. In addition, the company has activated a telephone line 8-800 enabling potential and existing clients in any Russian city to make free calls to the company’s head office using one and the same number throughout the country.

In 2008, according to the results of the independent survey of customer service quality in life insurance among the companies of Allianz New Europe, Allianz ROSNO Life demonstrated a considerable advantage in terms of customer service quality over its major competitors in the Russian market and other Allianz divisions in the surveyed countries. During the survey, independent experts evaluated the companies in accordance with the following criteria: office accessibility, service time, personnel’s friendliness, mutual understanding between the client and the consultant, the consultant’s competence, contact with the client, and his or her appearance. The aggregate quantity of points scored by Allianz ROSNO Life equalled 110.2, while the established quality standard was 100 points.

In 2008, the rating agency Expert RA has assigned Allianz ROSNO Life an A+ reliability rating ("Very High Reliability Level"). Among the factors enabling the company’s reliability to be graded so high, the agency mentioned extensive branch network, excellent liquidity figures, stable and sound reinsurance protection, and the company’s stable and diversified portfolio.

"I am fully satisfied with the results achieved by Allianz ROSNO Life in 2008 under the currently prevailing difficult market conditions affecting all financial and insurance sector companies without exception", commented on the results of the year 2008 Mr. Hannes Shariputra Chopra, head of Allianz Eurasia and CEO of ROSNO Group. "Allianz ROSNO Life has achieved ambitious goals, securing a 139.5% increase and showing more than 20% growth in new business volumes. In 2009 I expect to see at least as impressive growth dynamics in this strategically important business segment of Allianz Eurasia. We are confident that the financial crisis is the time of additional opportunities, since it is now that the life insurance must become the most popular instrument of long-term financial protection".

"In 2008, we made a step forward in all business segments and expanded our client base by 64% — to 22.2 thousand private and corporate clients. At the same time, major attention was paid to quality of the insurance portfolio: 61% of the contracts are accumulative life insurance contracts, and more than 50% of those have been concluded for the period of at least 20 years. In 2009, we will be concentrating on intensive development of the agent network, which represents our major sales channel, accounting for up to 90% of the company’s sales, and will continue cooperation with banks and other intermediaries that we are interested in. Also, we plan active improvement of our value proposal to clients, including complementing it with the programs developed by other companies of Allianz Group in Russia: ROSNO and Allianz ROSNO Asset Management. Thus, we seek to offer our clients a comprehensive product capable of quick and relatively inexpensive satisfaction of the most diverse needs in the field of insurance protection and financial security", added Mr. Maxim Chernin, CEO of Allianz ROSNO Life.