INSURANCE Profile: BCR Asigurari de Viata - the only company which ended 2009 "in the black"
BCR Asigurari de Viata continues its ascent towards the first position on the life insurance segment, being the only company that sells these types of policies and which ended 2009 with rising underwritings: RON 255 million (EUR 60 million), which is, in European currency, a nominal evolution of over 38%, compared with 2008.
Also, the company member of the Austrian group VIENNA Insurance is the only one who has achieved a steady growth of business in 2009 (in EUR): 33.5% in the first quarter, 16.6% at mid-year, respectively 22.4% after the first nine months of the year.
This data marked the positioning of BCR Asigurari de Viata (with a market share exceeding 21%) on the first place in the hierarchy of the traditional life insurance segment, by the criterion of the underwritings volume, thus coming ahead of the company ING Asigurari (underwritings of EUR 52 million - equivalent to 18% market share).
ING Asigurari de Viata remains in the top of the hierarchy on the unit-linked policies segment, with a market share of around 69%.
In 2009, the Romanian life insurance market amounted to EUR 390 million, representing 18.5% of the total insurance market. Traditional life insurance represented 73.15% of the total underwritings on life insurance, those with an investment component, unit-linked type, 26.72%, the remaining portfolio of 0.13% being completed by marriage, birth and permanent health insurance.
Preliminary results recorded by insurance and insurance brokerage companies in 2009 can be read only in Number 1/2010 of the Specialty Review INSURANCE Profile, which was released at the end of March.
Author: Vlad BOLDIJAR
on 01.04.2010
Comment this article
0 comments
|
