The largest share came from the sale of traditional life insurance policies (RON8.01 million), alongside health insurance (RON2.02 million).
AXA Life Insurance is part of the AXA group, the largest insurer in Europe, set up in 1816 as Mutuelle de L’assurance contre L’incendie (Ancienne Mutuelle).
With a share capital of RON80.5 million, the company began its operations in December 1997 as Omniasig Asigurari de Viata.
The AXA group took over the Romanian insurer in early 2010, through a deal with the Vienna Insurance Group (VIG).
Last year, AXA Life Insurance’s revenue from underwritten premiums amounted to RON20.3 million, down 21.1% from 2009. The company’s losses increased by 87.3%, to RON26.6 million.
The main players on the life insurance market are ING Asigurari de Viata, BCR Asigurari de Viata and Alico Romania.
In 2010, the AXA group’s revenue was EUR91 billion.