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May 26, 2020

ING: Life insurance policies remain “exotic land” for Romanians

Life insurance policies are “an exotic land” for the Romanians, as incomes and job security remain low, although the people are aware of the importance of signing a policy and saving money for retirement, the director general of ING Asigurari de Viata, Cornelia Coman, stated, for Mediafax. The bank official reiterated that Romania is one of the EU states with the lowest penetration rate of life insurance policies, where underwritten premiums account for 0.3 pc of GDP, compared to Hungary – 1.9 pc, Slovenia – 1.8 pc or Slovakia – 1.3 pc. In turn, the director general of Alico Asigurari Romania, Theodor Alexandrescu, stated that the rise in premiums on the insurance segment was below GDP growth.

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