BCR Asigurari de Viata, the life insurance company recently taken over by Vienna Insurance, closed the first quarter of the year with turnover worth 25 million LEI (6.8 million euros), up 64% on the same period last year.
"This organic growth is in line with the company’s 2008 business plan, and comes in the wake of an improved distribution network, product portfolio, and sales strategy," said Florina Vizinteanu, chairperson of BCR Asigurari de Viata, quoted by Ziarul financiar.
The company’s portfolio consists exclusively of traditional life insurance, while the insurer plans to enter the unit-linked market in the second half of this year. Unit-linked policies are life insurance products with an investment component, which means that a large part of the sums paid by the insured clients are placed in investment funds. The profit of BCR Asigurari de Viata doubled against the first quarter of 2007, and reached a gross value of 2.59 million lei (0.7 million euros) at the end of March.