Insurance company Aviva Asigurari de Viata (Life Insurance) has announced a capital increase by $1 million (746.62 thousand euros) to $19.5 million (14.5 million euros), by issuing new shares. Aviva Asigurari de Viata saw 30% growth in ROL of the gross premiums collected to 213bn ROL (5.6 million euros) in the first nine months of the year. The gross premiums subscribed rose 39% to 228bn ROL (nearly 6 million euros). The total value of the company’s assets amounted to 491bn ROL (12.9 million euros) on September 30, 2004. Aviva this month launched three new clauses available for the its newest product, the BetaCredit.
BetaCredit, a product introduced this July, is a life insurance plan for loans, by which the insurer undertakes the financial risk related to the loss of life, work capacity or of the client becoming invalid for the duration of a loan contract, repaying the remainder of the credit on behalf of the client. The product was designed to address the needs of the banks credit-wise. The additional clauses provide for the possibility of death by accident, as well as for the client becoming invalid or being rendered incapable to work for a specific period of time. ZF