OTP life insurance

This year Ceccar-Romas insurance company sells unit-linked life insurance policies. Late last year, the company, purchased in 2005 by the Hungarian OTP group for two million euros, obtained the authorization to practice the life insurance activity and will compete in this field with Aviva, Allianz Tiriac, ING Life Insurance and Interamerican. Insurance of this type represents life insurance related to fund units or investment programs, and the investment risk falls upon the client. OTP will raise the company share capital, thus holding 11% of the Ceccar-Romas shares, and the rest will be held by OTP Garancia, Hungarian insurance company within the group. (I.O.)