In the life and health insurance segment, NN Asigurari de Viata paid customers benefits of over RON303 million in the analyzed period, according to unaudited financial results.
“The amount represents expenses covered or claims paid to those who faced a situation covered by their insurance, as well as money accumulated through savings and investment products that reached maturity or were redeemed”, the company said in a press statement on August 20.
From the benefits paid for the covered unforeseen events, about 45% covered expenses or claims to clients who faced health-related issues. At the same time, in the home insurance segment, NN Asigurari paid over RON2.2 million to clients who faced incidents related to their homes, more than double compared to the first six months of 2023.
“(…) Securing our financial stability and growth ahead of the market, building innovative benefits and products, and transforming our business, through process simplification and development of our digital capabilities, are our main strategic priorities for the coming years”, explained Ramona Livinti, CFO of NN Asigurari de Viata.
Gross premiums written by NN Asigurari de Viata exceeded RON562 million in the first half of 2024, up about 12% compared to the same period of the previous year, according to unaudited financial results. Furthermore, the financial assets under management exceeded RON5 billion for the first time, up 10%. The company reported a gross profit of nearly RON61 million in the first six months of 2024 and paid a total of approximately RON54 million in contributions to the state budget, up 46% versus the first half of 2023.
In the voluntary private pensions segment managed by NN Asigurari de Viata, the company paid almost RON42 million to participants in the NN Activ and NN Optim funds who met the requirements to benefit from their Pillar III pension in the first half of 2024. The amount represents approximately 70% of the payments made throughout 2023 and increased by 31% compared to the same period of 2023.
Net assets under management exceeded the RON3 billion threshold at the end of June, combined for the NN Activ and NN Optim funds, 32% higher than in the same period of 2023, representing a 56.4% market share according to data from the Financial Supervisory Authority. The two funds had a total of 341,000 participants at the end of June 2024, accounting for almost 45% of the total number of Pillar III participants. Through its investment activities, NN Asigurari de Viata generated returns above inflation in the benefit of participants, of 7.77% for the NN Activ fund and 5.93% for the NN Optim fund in the first half of 2024, in line with calculations based on data from the Financial Supervisory Authority.
In the mandatory private pensions segment managed by NN Pensii SAFPAP, the company paid over RON228 million to participants who met the requirements to benefit from the money in their Pillar II accounts in the first half of 2024, up 75% versus the first half of 2023.
NN Pensii SAFPAP managed net assets of over RON48 billion at the end of June, almost 30% higher than the same period in 2023, representing a market share of 34% according to the data from the Financial Supervisory Authority. The fund had 2.1 million participants, making up 25.7% of the total number of participants in Pillar II, and the fund manager generated an investment return in their benefit of 6.8% in the first half of 2024, in line with calculations based on the same data.