The year 2016 was the best in a decade for Romania’s life assurance market leader, with its business indicators exceeding the levels recorded before the financial crisis, according to Marius Popescu, General Manager of NN Asigurari de Viata, which local market share is exceeding 40 percent.
The results are said to be reported on positive development in Romania’s economy and a rising interest of Romanians in insuring their health and financial future with saving insurance policies and private pension schemes.
NN bounced back to its pre-crisis levels, reporting subscribed gross premiums of 661.7 million lei in 2016, up 5.2 percent from 2015, and total assets worth more than 12 billion lei on the private pension segment.
“The year 2016 was excellent for our business because of record economic growth in Romania after the crisis, supported by stimulating monetary and tax policies. Thus, the overall recovery of the business environment, a rise in employment as well as of the value of incentives too it was reflected on the developments in the selling of life assurance, healthcare insurance and optional pension trusts,” the NN Asigurari de Viata official told a news briefing on Tuesday.