ING Asigurari bets on guaranteed capital insurance

ING Asigurari, the biggest life insurance company on the Romanian market, has launched its first euro-denominated unit-linked insurance product and expects sales to amount to 2 million euros by the end of the month (gross premiums underwritten), with the underwriting period being restricted to the 3-28 May interval.

Up until now, the company had only sold RON and dollar-denominated unit-linked policies. The new product guarantees getting the invested capital back and charges a single premium, of at least 1,000 euros. The policy also includes a life insurance component.

“With the crisis going on, after the heavy fluctuations of capital markets, we expect people to appreciate such an option. The contract specifies that the insured client gets back the net sum invested, i.e. the premium paid minus the contract fee and the cost of the life insurance,” says Cornelia Coman, CEO of ING Asigurari de Viata. This is a five-year policy.

The amounts paid by clients are invested in a Luxembourg-based fund, managed by ING Investment Management Europe, which in turn invests in Belgian government bonds, bank deposits and derivatives based on Dow Jones Euro Stoxx 50, the most representative stock exchange index in the euro zone.