Aviva 27% better off in H1

Life insurance company Aviva Romania concluded the first six months of the year with 3.8 million euros (154.5bn ROL) in subscribed premiums. The figure is 42% more in ROL and some 27% more in euros compared with the same time last year. The company collected 3.5 million euros from policy sales, almost 40% more in ROL compared with the first six months of 2003. Aviva Romania’s assets increased 26% to 11.6 million euros. Aviva is one of the four insurance companies in Romania that sells unit-linked type policies. These policies ‘link’ the insurance to investment programmes either in ROL or in foreign currency. The rather mediocre performance of the international stock markets caused the foreign currency investment programmes to yield only small growth or even to decline in the first half. Those in ROL, however, did better, because interest on deposits and government securities remain high despite inflationary decline. ZF