ERGO enters the Romanian market
German group ERGO had decided to establish a life insurance company
in Romania - ERGO Asigurari de Viata. The company will start to sell
life insurance policies in the second quarter of this year, through
a partnership with the local subsidiary of the Italian group UNICREDIT,
UNICREDIT Tiriac Bank.
The insurer, currently in a set up process, will be managed by Ina
CRETOIU, a specialist in this domain, with 16 years of experience in
the United States of America, Great Britain and Romania.
According to some previous statements of the ERGO representatives,
in the first phase the operations in Romania will aim the retail segment,
coming up with a traditional life, accidents and health insurance offer.
In May, ERGO and UNICREDIT announced the consolidation of the strategic
partnership regarding bancassurance in Central and Eastern Europe (Poland,
Romania, Russia, Slovakia, Slovenia and Hungary), after what, for medium
term period, will extend the collaboration in other countries.
ERGO is owned, with 93.7% shares by the German reinsurance company
MUNICH Re.
Author: Mihaela CIRCU
on 12.03.2008
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