Alico (formerly AIG Life), the third-largest life insurer on theRomanian market, settled 60% higher claims last year than in 2009,when the value stood at 11 million RON (2.6 million euros),according to the company's preliminary financial data.
"In difficult economic times, people feel an acute need forprotection through financial means such as life insurance. This isproven by the benefits paid to the insured last year, which rose60% against 2009," Theodor Alexandrescu, general manager of Alico,told ZF.
The head of Alico says claims of as much as 100,000 dollars (around75,000 euros) were settled, but most customers receive amountsseveral times lower, with the average premium collected by thecompany amounting to 200,000 euros. In parallel, the number ofclients terminating life insurance contracts ahead of maturity fellagainst 2009.
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