AIG Life announces 10m-euro sales

Life insurance company AIG Life posted gross underwritten premiums worth 34.8 million RON (almost 9.8 million euros) in the first quarter, a 46% growth against the same period last year. In euros, growth stands at 53%. “First of all, there was a growth in the volume of sales for individual policies, but also in the sales through brokers and banks,” stated Theodor Alexandrescu, general manager of AIG Life. The company sells 20% of its insurance policies through brokers and 5% through banks. AIG Life sells insurance complementary to credits through Raiffeisen Bank, Citibank and ABN Amro. At present, the company is negotiating partnerships with non-bank financial institutions. AIG Life is scheduled to enter the health insurance market this year. “We will launch our first health insurance product in the last quarter of the year. The first product will be designed for individuals and we will sell it either directly or through telemarketing. Later on, we will also launch health insurance products designed for company employees,” says Alexandrescu. He says the insurance company is currently negotiating contracts with several medical service providers. ZF