Insurance companies are again striving to persuade the FinanceMinistry to introduce fiscal deductibility for premiums paid forlife insurance policies, maintaining the market would this way growmore rapidly, and the economy would take in additional investmentsof 3.6bn RON (around 900m euros) in the next five years. TheNational Union of Insurance Companies (UNSAR) and the InsuranceSupervision Commission (CSA) were yesterday due to sent letters tothe Prime Minister, the Finance Minister, Labour Minister andspecialised Parliament committees asking for the introduction oftax deductibility for premiums paid for life insurance policiessealed for at least 10 years, up to 400 euros for individuals andthe same amount for companies offering this benefit to theiremployees. Insurers have made similar moves in the past years, butto no avail. "It's an older wish of life insurance market playersto convince the Finance Ministry that the introduction ofdeductibility for these policies is beneficial both to the lifeinsurance market and to Romania's budget," stated Angela Toncescu,CSA chairperson.
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