No growth in euros for ING Asigurari de Viata

ING Asigurari de Viata posted 12% nine-month growth in gross premiums in ROL compared with the same period last year. Taking into account the depreciation of the ROL against the euro over this period, gross premiums remained the same as last year. The volume of gross premiums rose by 16% over the same period. The company did not reveal volume figures. However, in 2003 ING Asigurari de Viata enjoyed gross premiums of 2,720bn ROL (72.5 million euros). “Like last year, we are seeing moderate growth. The contribution of the insurance sector to the overall economy is still very low compared with the general European level,” says Bram Boon, the company’s chief executive officer. The weight of insurance as a proportion of GDP is 1.5% in Romania, compared with 8-9% in the Western European countries. ZF