SIGNAL IDUNA limits its activity in Romania; CEO resigns

Amid the current unfavorable conditions existing in the present on the health insurance market in Romania, the German group SIGNAL IDUNA has decided to limit the activity of the Romanian subsidiary until the profile segment evolves positively. Also, the shareholders of SIGNAL IDUNA Asigurari de Viata said they aim for continuing their business in our country but in a much more cautious manner by reducing the financial exposure they have in Romania.

In this context, Sinziana MAIOREANU announced her resignation as CEO of SIGNAL IDUNA Asigurari de Viata, starting February 1st, current year, as a result of the differences of principles between her managerial vision and the decision of the ownership.

"2009 was a difficult year for the Romanian market and for SIGNAL IDUNA. Although the company was prepared to offer professional and innovative solutions in one of the most expected and required sectors of the financial services in Romania, our launch coincided with the beginning of the economic crisis and health insurance market evolved adversely", explained Sinziana MAIOREANU.
This is why the company's shareholders decided to continue their activity in Romania in a more prudent manner, by reducing financial exposure.

"During my entire career in financial services I have tried to promote strong values and principles, to bring my contribution both to the development of profitable business and to the implementation of vital reforms, such as the one of pensions and the one of the health insurance, as well as to educate our clients, to assist them to evolve along with the business environment, and I will continue to do all these, both as a professional and as a citizen", she continued.

SIGNAL IDUNA Asigurari de Viata officially launched its activity in Romania in October 2008, the company's assumed objective being to win, by the end of 2012, the leading position on the health insurance segment.

The Group SIGNAL IDUNA was founded in 1907 and has operations in Germany - the country of origin -, Switzerland, Hungary and Poland. The company offers a full range of financial services, including insurance, asset management and banking services, reaching 10 million customers in its portfolio, of which 2 million on health insurance. 

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