AIG Romania will become a branch of CHARTIS Europe
AIG Romania will become, by the end of 2009, the branch of the French company CHARTIS Europe, the brand under which AIG Europe is activating since July. "Along with the transformation from subsidiary to branch, AIG Romania enters into a process of rebranding which will be completed by the end of this year, or in early 2010 the latest", said Mihnea TOBESCU, General Manager of AIG Romania.
"By the end of the year, we will begin to operate as a branch of CHARTIS Europe, but the headquarters, the internal structure, the products offered will remain unchanged, and there will be no changes regarding our employees", he added.
Along with this transformation, AIG Romania will come out of the area of supervision of the ISC and will enter under the incidence of ACAM, the insurance supervisory authority from France, where CHARTIS Europe has its headquarters.
The French company has already notified the ISC that it plans to operate on the Romanian market based on the right of establishment, and the CHARTIS Europe branch was already registered in Romania, so now there are two companies on the local market- AIG Romania and the branch, according to statements of the General Manager of the insurer.
"We are now discussing both with the ISC and with ACAM, about the way in which the transition will be made, from AIG Romania to the CHARTIS Europe branch", stated TOBESCU.
Regarding the company's future projects on the Romanian market, Mihnea TOBESCU did not provide any details, but he mentioned he would examine the possibility of portfolio diversification with other non-life insurance lines.
AIG Romania ended the first half of this year with business of EUR 16.5 million and with a market share of over 1.5%, according to INSURANCE Profile Review estimations.
Author: Andreea IONETE
on 22.09.2009
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