Alexandrescu, Alico: Claims settled rose 60% last year

Alico (formerly AIG Life), the third-largest life insurer on the Romanian market, settled 60% higher claims last year than in 2009, when the value stood at 11 million RON (2.6 million euros), according to the company’s preliminary financial data.

“In difficult economic times, people feel an acute need for protection through financial means such as life insurance. This is proven by the benefits paid to the insured last year, which rose 60% against 2009,” Theodor Alexandrescu, general manager of Alico, told ZF.
The head of Alico says claims of as much as 100,000 dollars (around 75,000 euros) were settled, but most customers receive amounts several times lower, with the average premium collected by the company amounting to 200,000 euros. In parallel, the number of clients terminating life insurance contracts ahead of maturity fell against 2009.