The growth was favored by an improved economic outlook and higher purchasing power, company general manager Marcel Popescu said in a press release. He added growth was also fueled by a slight comeback of unit-linked policies, which increased 10% in the first half.
ING Asigurari de Viata managed financial assets of RON2.68 billion at the end of June, up 11% on the year.
Seventy percent of policies sold in the first half of the year were traditional life insurance policies. The average gross premium for insurance contracts concluded in the first half was RON1,694, 6% higher than in the first quarter of the year, and the average insured amount reached RON50,410, up 18% on the year.
The insurer paid benefits of RON61.65 million in the first six months, of which RON48.4 million were benefits for contracts that reached maturity.
ING Asigurari de Viata’s estimated gross profit amounts to RON14.89 million in the first half of the year, compared to RON5.63 million in the same period last year.
ING Asigurari de Viata is the largest local life insurer by 2013 underwritings, which stood at RON559.6 million, 2.8% higher than in 2012. The insurance company is part of Dutch financial group ING and has been operating on the Romanian market since 1997.