AIG Life doubled its profit

The company AIG Life Asigurari Romania ended the first semester of 2008 with businesses over 140 million lei in increase with 51% against 2007, the same period. In euro the volume of subscribed gross premiums increased to 38 million, in increase with 37%. The reported gross profit is of 24 million lei (7 million euro), representing the double of the recorded value in 2007, the same period.

“The company touched the maturity level which allowed us to diversify the distribution methods, in the same time focusing on professionalizing the network of own consultants. Our plan was followed by letter also in what concerns the financial parameters of performance: incomes, expenses assets and profit”, Theodor Alexandrescu, general director of AIG Life explains.

The life insurances market has also developed as a result of implementing the Second Pillar of private administrated compulsory pensions. This important factor has determined the Romanians to become aware of the necessity of financial planning on long term. The value of the products of individual life insurance with guarantees benefits is perceived as being more significant by customers for their financial welfare. The guarantees weren’t affected by the lately unfavorable evolutions of the financial markets. “The results of the innovative products launched since the beginning of the year till now started to be noticed in this period. The company launched two packages of products that offer a mix of guaranteed benefits and benefits from investments. There were also introduced new options of medical benefits and protection that can be attached to the already existent policies”, the chief of AIG Life outlines.