BCR Asigurari de Viata, the third largest company on theRomanian life insurance market, ended the first nine months of thisyear with 168.4 million RON (39.8 million euros) in underwrittenpremiums, up 40% against the similar period of last year. The lifeinsurance market fell by 10% in the first nine months of the year.The gross profit posted by the insurer during this period amountedto 12.5 million RON (3 million euros), 82% more than in the firstthree quarters of 2008. The results are because of thecollaboration with BCR, the largest bank on the Romanian market,with BCR Viata being a bancassurance company. "Additionally, thelaunch of products in very high demand, such as index-linked BCRGarant, as well as of traditional life insurance products, such ascoverage for children's tuition fees, allowed us to expand ourclient portfolio," said Florina Vizinteanu, general manager of BCRViata. The company was set up by the BCR in 2005, and sold lastyear, together with BCR Asigurari (which specialises in generalinsurance), to Austrian group Vienna Insurance, for 244 millioneuros.
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