ING Life insurance recorded a 75.2 per cent pre-tax profit increase in 2005, from 19 mln RON to more than 34 mln RON, strengthening its leader position on the Romanian market of which it holds an estimated 37 per cent share.
ING Life insurance boasts bonus profits of 391 mln RON in 2005, up 27.6 per cent compared to previous year, whereas the total incomes top 513 mln RON, up 24.5 % than in 2004.
"Romania is a key market for ING Life Insurance as there is an increased security need. We estimate the security deficit at 130 billion lei," says Bram Boon, CEO of ING Life Insurance.
The Insurance activities make up 49 per cent of the overall profit of the ING group worldwide, whereas ING is the number one provider of pensions and life insurance in Central and Eastern Europe.
ING Life insurance plans to offer support for the private pensions’ reform in Romania as the potential customers reach 5.6 million persons.