ING Asigurari de Viata To Pay Dividend Worth EUR8.8M

05.16.2011 By Bostan Radu

Romania’s ING Asigurari de Viata will pay its major shareholder, Dutch company ING Continental Europe Holding, dividends worth 36 million lei (EUR8.8 million), amounting to 93% of the company’s net profit.

The company's net profit in 2010 was RON38.89 million, down 49.7% on the year.

In September 2009, ING Asigurari de Viata paid RON16.9 million in dividends of its 2008 net profit to its Dutch shareholder.

The Romanian insurance company also paid dividends of RON13 million of its 2005 net profit, and RON27 million in dividends for 2007.

ING Asigurari de Viata is the largest insurance company on the local market, having underwritten RON543.4 million in 2010, up 3% compared to 2009.

Its market share last year was 32,6%, according to insurance regulator data, while its share capital is RON77.4 million.

ING Asigurari de Viata was founded in 1997 and is a member of Dutch group ING, whose other Romanian operations are ING Bank and ING Fond de Pensii. The company's main competitors are BCR Asigurari and Alico Romania. (EUR1=RON4.0997)