ING Asigurari, the biggest life insurance company on theRomanian market, has launched its first euro-denominatedunit-linked insurance product and expects sales to amount to 2million euros by the end of the month (gross premiumsunderwritten), with the underwriting period being restricted to the3-28 May interval.
Up until now, the company had only sold RON anddollar-denominated unit-linked policies. The new product guaranteesgetting the invested capital back and charges a single premium, ofat least 1,000 euros. The policy also includes a life insurancecomponent.
"With the crisis going on, after the heavy fluctuations ofcapital markets, we expect people to appreciate such an option. Thecontract specifies that the insured client gets back the net suminvested, i.e. the premium paid minus the contract fee and the costof the life insurance," says Cornelia Coman, CEO of ING Asiguraride Viata. This is a five-year policy.
The amounts paid by clients are invested in a Luxembourg-basedfund, managed by ING Investment Management Europe, which in turninvests in Belgian government bonds, bank deposits and derivativesbased on Dow Jones Euro Stoxx 50, the most representative stockexchange index in the euro zone.
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