Aviva Asigurari de Viata Romania has disclosed a 38.3% increase in gross premiums underwritten last year, up to 8.3 million euros (338.9 billion ROL). In 2003, gross premiums underwritten amounted to 6 million euros (227.6 billion ROL), in line with a report by the Insurance Supervision Commission (CSA).
According to the company report, the number of gross premiums underwritten for new life insurance policies surged 105% in the last quarter of 2005, in the domestic currency, compared to the corresponding period of the previous year.
The gross premiums cashed by the company were worth 7.1 million euros (290.4 billion ROL), up 22.4% on 2003.
The company's assets went up almost 40% in euros, to 13.8 million euros (561.5 billion ROL).
Aviva Asigurari de Viata Romania has also mentioned the yield derived from the investment programmes managed by the company.
Thus, the yields for dollar-denominated investment programmes were 17.6% (the Actual programmes), 6.9% (Conservator), 6.9% (Median) and 7% for Suprem.
The ROL-denominated programmes posted yields of 17.5% (Practic) and 4% (Practic Plus).
The company did not disclose its results for last year.
According to CSA data, Aviva Asigurari de Viata Romania posted losses of 96 billion ROL (2.5 million euros) in 2003. According to Giliola Ignat, Aviva's brand communication supervisor, no insurance company can turn a profit in its first five years in business.
Aviva entered the Romanian market in 2000. sorin.pislaru@zf.ro
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