Aviva, the fourth largest company on the life insurance market,has budgeted an increase in gross premiums underwritten in 2011,but it will end this year with a turnover decline compared with2009, said Mihai Popescu, the company's general manager.
Last year the company underwrote around 102 million RON (24million euros) in gross premiums, 5% less than in 2008, withAviva's turnover falling by 17% this year against the correspondingperiod of 2009, to 40 million RON (9.5 million euros) because ofthe cancellation of policies and of the change in the accountingmethod used.
"We provided for an increase in gross underwritten premiums in nextyear's budget, but I don't want to provide a figure yet. In 2011 wewill seek to ensure a quality portfolio, i.e. raise the share ofcontracts that last until maturity and develop the bancassurancechannel," Popescu says.
The life insurance market recorded a 2.9% rise in the first ninemonths, to a volume of gross premiums underwritten of 1.22 billionRON, after it had seen a two-digit fall last year.
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