ING reports slight increase in Romanian insurance business while paying higher compensations

ING Asigurari, the insurance arm of ING Romania slightly grew its volume of gross written premiums at about EUR 96 million in the first nine months of this year, up 0.8 percent compared to the same period in 2010. Despite the growth in premiums, its gross profit was down to EUR 6 million, from EUR 10 million during the same period last year. The value of its financial assets under management stood at EUR 499 million at the end of September, up 7 percent over the same period in 2010. ING paid out EUR 11 million in compensations in the first nine months, a growth of 21 percent compared to the first nine months last year. The company’s assets managed on the private pensions segment amounted to EUR 570 million. Irina Popescu, irina.popescu@romania-insider.com