Unit-linked life insurance reaches 146m euros

Gross underwritten premiums from unit-linked life insurance reached 146.3 million euros (over 488 million RON) last year, up 24% in euros on 2006, according to data from the Insurance Supervision Commission (CSA). Unit-linked insurance products are life insurance policies “linked” with investment funds, with the bulk of the premium paid by the insured party being placed with these funds, while a smaller share of the premium goes into covering the insured risks. The unit-linked insurance market therefore saw a slightly higher increase in euros last year, amid an 18% increase in the volume of gross underwritten premiums in 2006. The market virtually more than doubled over the last five years, from almost 63 million euros in 2003. In 2007, unit-linked insurance accounted for 33.9% of the life insurance market, a slightly lower share than in 2006, when it held 36.6% of the market. The market of life insurance policies linked to investment funds is attracting new players each year. 2007 saw the entry on this market of Generali and AIG Life, which joined Allianz-Tiriac, Aviva, Interamerican, ING Asigurari de Viata and KD Life.