ING Asigurari de Viata registered a net profit of RON14.71 million in 2011, compared to RON38.89 million in 2010.
“In fiscal year 2011, the insurer paid out dividends of RON36 million from its 2010 net profit, exclusively to its main shareholder, ING Continental Europe Holding BV. The payment was made on September 28, 2011,” reads the report.
ING Continental Europe Holding holds over 99.9% in ING Asigurari de Viata.
In September 2010, the insurer paid dividends amounting to RON76.2 million, from the net profit registered in 2009 and from the previous years’ undistributed profits.
Dividends paid out in September 2009 amounted to RON16.9 million. The beneficiary was ING Continental Europe Holding.
ING Asigurari de Viata is the leader on the local insurance market, with underwritten premiums of RON554.4 million in 2011, up 2% on the year, and a market share of 31.8%, compared with 32.6% a year before, reads the report.
Its main competitors are insurers BCR Asigurari de Viata and Alico Romania.
The Romanian general and life insurance market shrank 4.3% last year to RON7.95 billion, due to a 6.5% decrease registered on the general insurance segment, to RON6.21 billion, according to insurance regulator CSA.
ING Asigurari de Viata has a share capital of RON89.99 million. It was set up in 1997 and is part of Dutch group ING, also present in Romania though ING Bank and pension fund ING Fond de Pensii.