Life insurer posts EUR 7.6 mln profit in Romania after firing 700 sales agents

Life insurer BCR Asigurari de Viata, part of Vienna Insurance Group (VIG), posted a net profit of EUR 7.6 million in the first nine months of the year, after recording losses in previous years, said chairman of the company’s board Sorin Mititelu, reports local Hotnews.ro. The results are due in part to a restructuring plan that began last fall, when the group gave up its network of 700 insurance agents and coordinators, added Sorin Mititelu. "We are now relying on other 800 employees of Banca Comerciala Romana (BCR), plus advisers. The bank has 1,200 customer advisors. BCR Asigurari de Viata currently has 45 employees, but we rely on the partnership with BCR for sales. BCR Asigurari de Viata takes care of the operational side," Mititelu explained. editor@romania-insider.com