AIG Life makes biggest profit on the market in H1

AIG Life, the second largest player on the life insurance market, posted a gross profit worth 24 million RON (over 6.5 million euros) in the first half of the year, double against the same time last year. This is the biggest profit reported by an insurance company in the first six months of this year. Other top ranking companies in terms of half-year profit include the leader of the insurance market, Allianz-Tiriac (5 million-euro operating income), the leader of the life insurance market, ING Asigurari (5.2 million-euro gross profit) and the No. 2 company on the general insurance market, Omniasig (5.4 million-euro gross profit). “Given our volume of gross underwritten premiums, such a result is normal, and in line with our expectations. Our consistent financial model with regard to acquisition costs, insurance underwriting and other costs has fetched us this result,” said Theodor Alexandrescu, general manager of AIG Life.