NN, the largest life insurer in the local market, announced on Tuesday that it paid out a total of 444 million lei to insurance clients and members of managed private pension funds in the first half of 2023, which is 24% more than in the same period last year. .

282 million lei were paid for life and health insurance

In the life and health insurance segment, NN Asigurări de Viață paid a total of 282 million lei to clients for insured events and policies that reached the end of the contract period in the first half of 2023, which is 8.6% more than in the same period last year year year.

These amounts covered unexpected expenses for clients who required hospitalization and surgery, provided financial support to families in the event of death, and covered the loss of income for clients who could no longer work.

• “Insurance is a real solution, with the help of which people can more easily financially overcome unforeseen life situations. With costs starting at just 5 lei per day, NN customers know that they can count on significant amounts of money for expenses that arise in situations covered by their insurance, and thus can focus on what is really important to them.” said Kuldeep Kaushik, CEO, NN.

Revenues of 500 million lei and gross profit of 63 million lei

Gross premiums written by NN Asigurări de Viață crossed the threshold of 500 million lei in the first half of 2023, up 4% compared to the same period of the previous year, and financial assets under management amounted to 4.6 billion lei, up 8% from the first half 2022, according to unaudited financial results.

The company closed the first half of the year with a gross profit of 63 million lei, according to unaudited financial results, which is 6.7% more, and paid a total amount of contributions to the state budget of approximately 37 million lei, which is 22% more than in the first half of last year year

32 million lei for those who have an optional private pension

In the segment of optional private pensions managed by NN Asigurări de Viață, the company paid a total of 32 million lei to members of the NN Activ and NN Optim funds who met the conditions for receiving a level III pension, an increase of 13.2% compared to the same period in 2022 .

Net assets managed by NN Asigurări de Viață increased by 26% to 2.3 billion lei at the end of June 2023, combined for NN Activ and NN Optim funds, representing a 55.8% market share according to the Financial Supervisory Authority. .

At the end of June 2023, the two funds cumulatively exceeded 312,000 participants, equivalent to 46.9% of the total number of Pillar III participants, and NN Asigurări de Viață benefited from an increase of 7.76% for the NN Active fund and 7.07% for the NN Optim fund in the first half of the year, according to calculations based on ASF data.

130 million lei paid to those with level II pensions

In the segment of mandatory private pensions managed by NN Pensii, the company paid out 130 million lei to participants who met the conditions in the first half of 2023 to benefit from money from their level II level, which is 83.6% above the level of the same period previous year

According to the Financial Supervisory Authority, at the end of June 2023, NN Pensii managed 37.5 billion lei of net assets under management, which is almost 25% more than the same period in 2022, representing 34.1% of the market.

The fund, managed by NN Pensii, ended the semester with 2.1 million participants, equivalent to 26% of the total number of Pillar II participants, and according to NN Pensii’s calculations, it benefited from a gain of 7.76% in the first half of 2023. based on ASF data.

NN has 500 employees in Romania and 1,600 financial advisors and sales managers and provides services to more than 2.3 million insurance and pension clients.

The company is part of the international NN group, which is present in 11 countries and has more than 16,000 employees and more than 20 million customers.