Alico Asigurari (the former AIG Life), ranking third on thedomestic life insurance market, saw its underwritten premiums go upby 10% in the first four months of this year, to around 95m RON(22m euros), while the entire life insurance market climbed by 6%in the same period. The company's turnover started picking up,after in 2009 the crisis cut it by 30%, to 200m RON (47m euros). "Asignificant increase, of 26%, was registered by accident andsickness insurance, while underwritten premiums from healthinsurance went up by 25%," stated Theodor Alexandrescu, generalmanager of the company. He states the company operated at a profitin January-April, but did not disclose its value. In 2009, Alicomade net income worth 69.1m RON (16.4m euros), 29% above theprevious year's figure. Alico manager says sales of life insurancehaving an unemployment clause attached have risen significantlythis year, and claims have increased accordingly. This type ofinsurance is usually bought by banks, non-bank financialinstitutions or telephony operators for groups of clients andcovers the payment of instalments in case the insured person loseshis or her job.
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