Aviva shoots for third place

Life insurer Aviva has set out to win the third place on the Romanian market this year, says Carl Boehr, the company’s president.
According to estimates, Aviva ranked fourth last year on the life insurance segment, with almost 5% market share acquired in two years of operations. The company logged more than 2.7 million dollars in net underwritten premiums after the first two quarters of 2002, with annualised premiums of 3.2 million dollars. At the end of 2001, Aviva’s net underwritten premiums were revolving around one million dollars.
The company recorded equity capital worth $14.5 million at the end of Q3, 2002, up four million dollars since December 2001. The solvability index calculated on September 30, 2002 was 17.98.
Aviva Asigurari de Viata (Aviva Life Insurance) is a member of British group Aviva, former CGNU, the world’s seventh-largest insurer and the leading life insurer in Europe in 2002. According to Carl Boehr, “London is content with the results of Aviva in Romania,” which means that the group will continue to invest in the company’s development.
Aviva last year focused on improving the quality of products and services, mainly by restructuring the sales team, given the fierce competition on this market.
Starting this year, Aviva provides the so-called individual medical provisions to those clients who opted for products including a protection component (Beta, Gama, Delta and Sigma). These clauses provide the necessary funds when the client needs surgery or hospital admittance following an accident or disease. Coverage stops at 58 years of age for women and 63 years for men. The premiums can be paid in ROL, US dollars or euros. The provisions can also extend to the children of the insured, if they are three years or older, with coverage ending at the age of nineteen.
The clients that opted for investment plans must also choose a product featuring a protection component so that they can benefit from the individual medical provisions.