BCR's life insurance company doubles turnover after nine months

BCR Asigurari de Viata, the third largest player on the life insurance market, underwrote gross premiums worth 118.4 million RON (32.5 million euros) in the first nine months, up 96% against the same time last year. The company's gross profit amounted to 6.8 million RON (1.9 million euros). "Our nine-month results enable us to consolidate our previously position. We are a young company that has managed in only two years of to rank third among life insurers," said Florina Vizinteanu, general manager of BCR Asigurari de Viata. The company was established at the end of 2005, when it took over the life insurance portfolio of BCR Asigurari, a company that then specialised in general insurance. At the end of the first half of this year, BCR Asigurari de Viata reached the third position in the ranking of companies on this market, after being seventh in the first half of 2007. The life insurance market amounted to 1.31 billion RON (361 million euros) in the first nine months of the year, 27% above the same time last year, according to data from the Insurance Supervisory Commission.