"The company sells a building in Brasov for EUR 8.95 million and will continue to reduce its real estate assets in order to align with the requests of Solvency II. On of these directions refers to the optimization of the assets structure, according to the current needs of space for the insurance activities of the company, including the diminution of the spaces owned, designated for third party use. ", Allianz-Ţiriac Asigurări informed MEDIAFAX.
Solvency II, which could take effect since 1st of January 2014, represents a set of European directions which will modify significantly several aspects of the European legislation in the insurance field, regarding solvency.
With a total area of 9,036 sqm built on eight levels (ground floor, mezzanine and 6 upper floors), the building in Brasov has an occupancy rate of over 90%, the spaces being rent to multinational companies, with guarantees regarding medium and long term occupancy.
Having a social capital of 99.4 million lei, the Romanian insurer occupies the third place in the field and is controlled by the German group Allianz – 52.16% and Vesanio Trading Limited (Cyprus) – 44.48%, a company owned by the businessman Ion Ţiriac.
Allianz-Ţiriac Insurances had in the first quarter 241.5 million lei incomes from general and life insurances, with 5% growth compared to the same period of 2012, and the operational profit has decreased from 7.9 million lei to 6.4 million lei. (source: economica.net)