ING Asigurari gross profit up 50%

ING Asigurari de Viata (Life Insurance), the leading company on the specialised market, underwrote gross premiums worth 30 million euros in the first three months of the year, a 20% increase against the same period of last year, according to the quarterly report of ING Group. In the first three months of 2005, the company”s business stood at 25 million euros. The pre-tax profit logged by ING Asigurari for the first three months of the year stands at 3 million euros, against the 2 million seen in the same period of last year. The gross profit increased by 50%. In Hungary, the insurance division of the ING group saw business worth almost 100 million euros in the first quarter, a three-fold increase against that seen in Romania, and a gross profit worth 18 million euros. In Poland and the Czech Republic, gross premiums underwritten by ING stood at 62 million euros and 76 million euros respectively. ING Asigurari was last year the number one company on the market of life insurance, thanks to its about 108 million-euro business, an over 40% increase against 2004. ZF