ING Asigurari, the biggest company on the life insurance market,expects its turnover to pick up after the 2009 decline and hasbudgeted a 5% increase in gross underwritten premiums for thisyear, to 553.5m RON (around 132m euros calculated an exchange rateof 4.2 RON/EUR). Last year, the company saw its turnover slip by 5%amid the falling new sales and rising number of cancelled policies.The entire life insurance market contracted by 13% in 2009, to1.63bn RON (385m euros). Prior to the crisis, insurers were used totwo-digit growth rates each year. "We've budgeted 5% higher grossunderwritten premiums in 2010. We are counting on improved salescompared with last year, not necessarily in terms of the number ofcontracts, but of the average premium paid by insured clients,owing to the rising insured sum and additional clauses attached tocontracts," Cornelia Coman, general manager of ING Asigurari, toldZF. The insurer late last year carried out a life insurancepromotion campaign in the wake of which clients started buyingpolicies with higher insured sums, which drove up the averagepremium per client, states ING manager. The insurer plans to launchits first euro-denominated unit-linked product, with a minimumguaranteed return, soon.
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