July 4 (SeeNews) - Romania's financial regulator ASF said on Tuesday that it has received notification from Romanian life insurer NN Asigurari de Viata, formerly ING Asigurari de Viata, that it plans to enter the Bulgarian insurance market.
ASF provided no further details about the insurer's intentions.
NN Asigurari de Viata's gross underwritten premiums increased by 5.2% last year, reaching 661.7 million lei ($155 million/146 million euro).
Health insurance policies, the latest product launched by NN on the Romanian market in April 2016, generated over 21% of its total sales.
The insurer ended 2016 with assets worth 3.26 billion lei in Romania, up 7.7% on 2015.
In April 2015, ING Asigurari de Viata changed its change its name to NN Asigurari de Viata, to indicate its affiliation to its mother group, NN - ING's insurance division.
The European Commission earlier requested ING Group to separate its insurance division from its banking activities. In line with this request, ING Pensii became NN Pensii, while ING Investment Management changed its name into NN Investment Partners.
(1 euro=4.5788 Romanian lei)