Alico’s market share on the group medical insurance segment is seen at 25% by 2016, according to the company’s general manager, Theodor Alexandrescu.
“The demand for private medical services in Romania is growing, and the infrastructure of private hospitals and clinics has a fast development pace to compensate to the shortcomings of the public system,” he said.
Alico has launched a group medical policy that financially insures employees against illness. The product targets companies that could insure at least ten employees, while the insurance costs are deducted within the EUR250 per year threshold.
Founded in 1998, Alico Asigurari is the third largest life insurer on the Romanian market, following ING Asigurari de Viata and BCR Asigurari de Viata.
Alico was bought by U.S. MetLife on November 1, 2010.
Alico Asigurari Romania posted a net profit of 74 million lei (EUR16.6 million) last year, 7.4% higher compared to 2010, the highest profit posted on the local insurance market.