21 C
Bucharest
May 18, 2021
BUSINESS

Life insurance market to recover in 5-6 months after economic revival

The lag between economy comeback and that of life insurance industry will be of five to six months, and the factor to determine re-launch will be growth of consumers’ trust in a safer future, the deputy chair of the National Union of Romanian Insurance Companies (UNSAR), Cornelia Coman, argues. “The life insurance market will start recovery, after its slump in 2009, at the end of this year, but effects will only be seen in 2011. Even if Romanian economy recovers, it will take longer for our market to join in, until people resume their pre-recession attitudes, both in terms of consumption, and of savings. The lag between the comeback of economy and that of life insurance industry will be of five to six months, and the factor to determine the re-launch will be the growth of consumers’ trust in a safer future,” Coman said in a press release.

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