Decreasing profitability for ING Life Insurance
ING Life Insurance reached, in 2007, an income of EUR 1 million only, after being
the most profitable Romanian insurance company in 2006.
This figure was affected by a EUR 5 million loss registered in the fourth quarter
of 2007, according to the company's report. The company came out on the wrong
side by 89%.
At the same time, the total amount of gross written premiums registered by ING
Life Insurance raised up to EUR 149 million, meaning 3% more in comparison to
the previous year.
ING Life Insurance is leader of the Romanian life insurance segment, according
to Insurance PROFILE Magazine.
Also, the Romanian life insurance market registered, in 2007, very slow increase
rhythm based on the implementation of private pensions system, especially Pillar
II.
Author: Mihaela CIRCU
on 21.02.2008
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