More stable economic perspectives and a slight recovery of financial markets improved client confidence, resulting in a 7% increase in the number of new policies in the first quarter, a 17% drop in contract terminations, and a 18% growth in the number of participants to the voluntary pension segment, general manager Cornelia Coman said in a press release.
Coman will take over management of ING Asigurari de Viata si Pensii Hungary as of June 1.
The company administered financial assets worth RON2.2 billion on March 30, up almost 6% on the year.
Traditional products remained the most popular: those offering protection and guaranteed yields made up 72% of new policies, up by 20% from March 2011.
In the first quarter, the average benefit for new contracts was RON53,175, up 29% on the year. The average gross premium for new insurance policies this year was RON1,564, 2% higher than in the same period of last year.
ING Asigurari de Viata paid benefits of almost RON22 million for insured events and maturing contracts, up 79%.
On the voluntary pension segment (Pillar III), the two funds managed by ING – ING Activ and ING Optim – had 107,626 participants, 18% more than in March 2011. At the end of the first quarter, the two funds had net assets worth RON223.69 million, 35% higher on the year. (EUR1=RON4.416)