Interamerican sees growth for life insurance

The insurance company Interamerican Romania posted gross premiums underwritten of 7.32 million euros (268.3bn ROL) in the first half, 2.5% times more than for the same period last year. Life insurance contracts were the company”s top selling products, at 2.9 million euros, 12.5% more than in the first half of 2004. Policies sold on the general insurance segment amounted to 4.42 million euros, 3% less than in 2004. Company officials did not comment on the results. Life insurance gained a larger share in the company”s business, nearly 40% in the first half of this year, compared with 36% in the first half of 2004. Most of the sales were of traditional life insurance policies. The share of auto liability insurance in the total has increased by 4% since the end of 2004, whilst comprehensive auto insurance remained at 23.2%. The company posted losses of 0.84 million euros in the first half of this year (which ended June 30), while its losses for the whole of 2004 amounted to 1.13 million euros. Last year the company sold 11.64 million euros” worth of policies, ranking eighth on the life insurance segment, with total gross premiums underwritten of 5.05 million euros and a 2.74% market share on the segment. It is not a top ten player on the general insurance segment, however. ZF