Life insurances, durable growth on long term

The value of the new life insurance contracts increased in the last quarter from 2007 with 47,7%, against the period July-September, evolution sustained by the private pension sales from Romania, which contributed with 116 million euro, it is shown in the financial report of ING Group.

The launch of the second Pillar of private pension in Romania brought 71 million euro to sales, in the context in which ING draw over a million customers until the end of the year, which represents a market share of 33%. „We consider that we’ve obtained a positive result, as many as the investment for developing of private pension business was significant during last year. In what concerns the life insurances, we’ve obtained a good result against previous year, thanks to the portfolio stability and to the big sales in 2007. For us this supposes a durable increase on long term, even if on short term is reflected by a decrease of profit”, Bram Boon (foto), General Director of ING Life Insurance stated.

The Dutch ING Group, reported for 2007, a net profit of 9,24 billion euro, in increase with 20,1%, in the context of an increase of assets values held of  7%, to 1.312,5 billion euro. In the fourth quarter, the net profit at the group level was of 2,48 billion euro, in increase with 18,1% against the similar period of previous year. The net profit afferent to the insurance sector increased with 35,2% to 1,6 billion euro.

The ING operations from the sector of insurances from Europe generated in October-December 2007, a net profit of 296 million euro, with 50,4% under the registered level in the similar period of 2006.