1asig.ro
 About us  Contact  Site Map   Login   


Search
HomeInsurance marketEventsPublicationsXPRIMM TV  
 News 
 FSA 
 Insurers 
 Insurance Brokers 
 Interview of the week 










Interview of the week

Archive

Theodor ALEXANDRESCU, General Manager, AIG Life


For AIG Life, 2007 was the best year the company had in Romania so far. We have registered an important growth. According to the results registered in the first three quarters of 2007, we are the most profitable life insurance company on the market, and we hold an honorable second place.

XPRIMM: How would you characterize the evolution of AIG Life in 2007, quantity-wise and quality-wise?
Theodor ALEXANDRESCU:
For AIG Life, 2007 was the best year the company had in Romania so far. We have registered an important growth. According to the results registered in the first three quarters of 2007, we are the most profitable life insurance company on the market, and we hold an honorable second place. We are in graph with our plans, because, since we entered Romania, we had a ten years strategy and we also have big plans for the next ten years for the Romanian market. 2008 has all the premises to determine a growth as big as this year's. We intend to keep our position as leaders in growth and profitability terms on the market segment we are active on.

XPRIMM: What are the challenges you are expecting for this year, on the life insurance market?
T.A.:
We believe that in 2008 the Romanian life insurance market will continue to grow. The evolution will be strengthened by the Second and Third private pensions Pillar. The people already understand that they have to increase their income after retirement, for a better standard of living. On short term, many persons will feel the need of life insurance and also the advantages provided: protection, capital accumulation and investments. Through a well prepared sales force, AIG Life will contribute to the education of Romanians, because their risks are to be taken by a powerful financial organization.
Nevertheless, the major challenge in 2008 might be convincing people that choosing a pensions plan through life insurance will cover the financial problems for an individual and his family. By the means of continuous communication with the potential customers, they will get to understand the difference between a pensions plan, which basically offers accumulation of capital, and a life insurance that, besides the accumulation of capital, offers many other protection advantages against unpredictable events in life.

XPRIMM: What measures, do you think, must be taken in order to stimulate the development of this sector?
T.A.:
The legislation should allow deductibility also for life insurance, so that the employees to be encouraged to insure their revenue, family and life. At the time being, the Romanians are not stimulated to buy life insurance products.
Furthermore, for a better understanding of this field, which is still undeveloped in Romania, the authorities should initiate a plan of communication, in which the major players on the market must be involved.

XPRIMM: Do you consider that the private pension's debut will influence also the life insurance market?
T.A.:
The private pensions already had an important impact in the growth of interest towards what is a life insurance and what is its purpose. We can obviously say that the implementation of the Second Pillar has been the reason of many interesting debates about life insurance, between the insurance agents and their potential clients. 2008 represents the moment when these discussions will start to transform themselves into actions.

XPRIMM: Thank you!

Editor: Mihaela CIRCU | Published on 13.03.2008






















Copyright 2022 (c) 1asig.ro
powered by Media XPRIMM