RON 414 million underwritings for ING Life
Romanian ING Life underwrote premiums of RON 414 million in the first nine months of this year growing 14% compared to the same period of the previous year.
Also, ING Life obtained in the first three quarters a before-tax profit of RON 26.4 million, a 34% growth in comparison with 3Q/2007.
"This growth was mainly sustained by the investments made in 2007 into the voluntary pensions activity, as well as due to the customers portfolio enlargement", Cornelia COMAN, General Manager, ING Life, stated.
Also, the solvency margin available at the end of september 2008 of RON 129.4 million covers 2.06 times the minimum solvency margin required by the Romanian law. The RON 975 million liquid actives cover 6.23 times the short term obligations (the minimum required liquidity coefficient is 1).
"The good results obtained at the end of Q3/2008, doubled by the high solvency and liquidity indicators, offer us a solid position on the Romanian market.
Thus, our priorities are the needs of our clients and the safety of their investments", Cornelia COMAN added.
Author: Mihaela CIRCU
on 13.11.2008
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