Pension plans made up 28% of ING sales in 2007

“We had very good results in 2007, mainly due to portfolio stability and a high volume of sales. For us this means healthy long-term development, even if in the short-run there be a drop in profit,” according to a statement for Business Standard by Bram Boom, General Manager of ING Asigurari de Viata.

ING plans to launch a new leu-denominated fund, a euro unit-linked policy (a combined investment fund and insurance policy), a product intended for brokers, and group non-nominal insurance policies.

ING official believe that the Romanian insurance market has every reason to be optimistic about evolution in 2008. The private pension system and new companies on the market following the country’s accession to the European Union are two of the factors that will contribute to the market’s development.

ING Asigurari de Viata posted €364.8 million in 2007 in subscribed gross premiums, 15 percent higher year-on-year. The value of administered assets was 28 percent higher year-on-year, up to RON 1.39 billion (€0.38 million) in September 2007.