ING Asigurari revenues reach 25m euros

ING Asigurari de Viata underwrote gross premiums worth 25 million euros (929.3bn ROL) in the first quarter of the year, up 38% on the same period in the last financial year. The growth in ROL was 27%. The insurer also saw the amount of gross premiums collected increase by over 46% to 25.6 million euros (952.4bn ROL). The results see the company return to higher levels of underwriting after stagnation in the last two years. ING had 75.7 million euros in gross premiums underwritten in 2004, 4.5% up on 2003. The company saw its gross premiums underwritten fall by 8%, however, between 2002 and 2003. The company concluded FY2004 with gross profit of 4.9 million euros. Profit figures for the first quarter were not available. INGa??s best-performing products were its unit-linked insurance contracts for this period (ING was the first company to introduce unit-linked products to Romania, in 1998), plans for childrena??s education, pension plans, mixed life insurance and additional life insurance. ZF