Aegon eyes a 20 pct increase in underwritings in 2015

Newsroom 18/03/2015 | 15:07

Aegon Romania expects for this year a 20 percent increase in underwritings against 2014 to RON 60 million (EUR 13.5 million), due to the 10 percent increase in new insurance policy sales and to the development of a new bancassurance partnership.

“Last year, the company’s underwritings increased by 50 percent, to RON 50 million (EUR 11.2 million), the figure being strongly supported by the taking over of the policy portfolio from Eureko Romania, which brought about 20,000 insurance policies. Without this taking over, Aegon Romania’s underwritten premiums’ increase would have been between 10 percent and 15 percent,” said the general manager of Aegon, Sinziana Maioreanu, according to Mediafax.

She added that the company late last year ranked No. 9 in the hierarchy of life insurers, with a market share of over 3 percent.

“We want to continue growing rapidly and we are interested in making new purchases on the life insurance market. We are aiming companies included in top 10. We believe that new opportunities will arise for acquisitions amid the pressure the transition to Solvency II will exert on various players on the market,” also said the general manager of Aegon Romania.

The top five players considering the level of premiums registered in 2014 are ING Asigurari de Viata – 37.39 percent, Metropolitan Life – 16.1 percent, BCR Asigurari de Viata – 8.76 percent, Asirom – 5.95 percent and Allianz-Tiriac Asigurari – 5.92 percent.