NN Romania registers growth in Q1 on pensions and life insurance

NN Romania registers growth on life insurance and private pensions in Q1

Newsroom 26/05/2016 | 14:35

NN Romania has registered a gross profit of RON 6 million in the first quarter of this year for the life insurance segment, where the volume of gross written premiums went up by 2.6 percent to RON 157.4 million compared to the same period of last year.

In the optional private pensions line, NN Asigurari de Viata managed assets worth RON 646.5 million for 167,778 clients. The assets were up by 20 percent against the first three months of last year.

In NN Pensii, which manages the second mandatory private pension’s pillar, the company has registered a 25.5 percent gain in assets to RON 9.6 billion.

“The life insurance with a protection component were rather preferred by our clients, with the number of people acquiring such a product going up by 85 percent compared to 2015. In addition, we have 10 percent more clients in our portfolio for optional pensions compared to last year which means that both companies and individual clients have opted for this financial products, which can be offered as a non-wage compensation, or as a means for individual saving on the long term,” said Marius Popescu, the general director of NN Asigurari de Viata.

He added that the first quarter marked the entrance of NN on the health insurance market.

NN Asigurari de Viata has paid RON 8.2 million in claims for its customers.

Raluca Tintoiu, the general director of NN Pensii, said that in the first quarter, the private pensions operations grew both in terms of contributors and assets under management.

NN Pensii registered a 2.5 percent increase in the number of contributors to 1.9 million. It holds a market share of 29 percent.

Close to 65 percent of the assets of NN Pensii have been invested in bonds, while listed shares have a 17.7 percent stake. Another 16 percent has been distributed in bonds, banks accounts and mutual funds.