Alico makes 9m-euro profit in first half

Alico (formerly AIG Life), the third-largest life insurance company on the Romanian market, ended the first half of the year with 38.8 million RON (9.3 million euros) in net profit, slightly up, by 3%, against the similar period of last year.

In 2009 Alico was the second most profitable company on the insurance market, with 69 million RON (16 million euros) in net income, behind ING Asigurări de Viață, with a 77 million-RON (18 million-euro) net profit.
“Forecasting the profit and a steady rise are an advantage when planning the company’s business and investments. We are permanently reassessing operating costs, this has always been part of our strategy, it’s got nothing to do with the crisis,” Theodor Alexandrescu, general manager of Alico, told ZF.
Alexandru did not specify what gross premiums underwritten amounted to, but said the trend recorded between January and April was preserved, i.e. a 10% increase on the same time in 2009.