NN Asigurari’s net profit surged 61% in 2018, up to RON55.2 million, according to the financial report published on its own website. The company proposed that its entire profit for 2018 should go to shareholders as dividends. Its turnover grew by just 4.6% in 2018, to RON771 million.
Sales of life insurance policies and investment-linked insurance policies, which contribute the most to NN’s income, saw a decline in 2018, with the latter falling by 2% to RON282 million.
Classic life insurance, generating 26% of NN’s sales on the local market, saw a 5% decline. The decrease of the two main categories of business was offset, however, by higher sales of health insurance policies, by medical expenses and by income protection insurance.
On the health insurance segment, NN underwrote gross premiums of RON112 million in 2018, up over 12% versus a year before. Health insurance policies became the third biggest source of income for the Dutch group on the Romanian market.
In 2018, health insurance generated nearly 15% of the overall premiums underwritten by NN.
NN accounts for 37% of the overall life insurance sales on the Romanian market.
NN’s main competitors in Romania are Metropolitan Life and BCR Asigurari de Viata.