Flat H1 sales for ING life insurance

The ING Group has announced gross premiums underwritten from life insurance worth 1,456 billion ROL (36 million euros) for the first six months of this year on the Romanian market, 11% higher in ROL as compared to the corresponding period of last year, but flat in terms of euros. The overall insurance market advanced 19% in euros in the first six months of this year, up to near 400 million euros. “The increase is in line with the company’s projections,” said Violeta Ciurel, general manager of ING Romania, the largest company in this domain on the Romanian market, with a share of almost 44% last year. The company is still the leader of Romanian life insurance in the wake of this registered result, considering the large gap between it and its rivals – Asirom, with a 12.7% market share in 2003, Omniasig Asigurari de Viata (8.8%) and AIG Life (8.5%). ING is currently carrying out a rebranding campaign, announcing it has changed the name of the company from ING Nederlanden Asigurari de Viata to ING. “It’s a global strategy of the company, through which we want to show that ING is an integrated financial services group. ING will continue to be a global label,” Ciurel explained. The Dutch group has operations on the Romanian banking, capital and insurance markets. ZF