AIG Life up 80% in Q1

AIG Life Asigurari (Insurance) Romania logged an 80% higher turnover in dollars in the first quarter this year, in comparison to the same time in 2003. Turnover went up from $2.9 million last year to $5.3 million in Q1, 2004. “Results were due to our own network of agents and to the increase in persistence (proportion of renewals out of total contracts). More than 90% of our existing clients chose to renew their insurance plans with AIG Life. The increasing productivity of our sales force also contributed to the results, as the number of agents has remained relatively the same since last year,” marketing and sales manager Theodor Alexandrescu explained. The Insurance Supervision Commission announced a 45% growth in premiums collected for the entire insurance market in the first quarter this year. ZF