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Insurance - archive

WATFORD Insurance has announced its intention to enter the Romanian insurance market

WATFORD Insurance today announced its intention to establish a branch to launch insurance operations in Romania, focusing mainly on the MTPL and ancillary insurance products sale, but other retail products such as residential property insurance may also be offered. more...

Romania, a key-market for VIG

Romania is a key-market for VIG, the Austrian group taking the commitment to be a long-term investor on the local insurance market, the VIENNA Insurance Group representatives stated on Monday, December 4th, during a press conference. more...

ATRADIUS enters Romanian and Bulgarian markets

ATRADIUS - the second largest provider of credit insurance in the world, announced it expanded its international presence with two new locations in Bulgaria and Romania, as a part of the company's global expansion strategy. more...

Romania should stay the course - funded private pensions the key to sustainable future, PensionsEurope warns

After the Romanian government has decided to cut the contributions to pillar II to 3.75% (instead of raising to 6% from the actual 5.1% as mentioned in the initial draft bill), people in Romania are now facing a significant risk of suffering a decrease in their future retirement income, PensionsEurope warns. more...

Romania: Reducing the contribution for second pension pillar will lead to a significant decrease of the pension's value for a high number of participants - AURSF

AURSF - The Association of Romanian Financial Services Users warns about the consequences of reducing the contributions for the second pension pillar, the action leading to a significant decrease of the pension's value for an extremely high number of participants. more...

Romanian ASF approved the merger between BCR Asigurari de Viata and AXA Life Insurance

The Romanian Financial Supervisory Authority's Board (ASF) announced it approved the merger operation by which BCR Asigurari de Viata VIG (the second largest life insurer in the country), will absorb AXA Life Insurance, as well as the portfolio transfer as a result of the merger. more...

ROMANIAN Transilvania Broker raises RON 9.6 milion in IPO

Romanian insurer Transilvania Broker raised 9.6 million lei (USD 2.5 million/2.1 million euro) through an oversubscribed initial public offering (IPO) of a 25% stake and might start trading on the Bucharest Stock Exchange (BVB) at the beginning of November, the bourse said on Thursday. more...

Euroins Romania cuts stake in Bulgaria's Synthetica

Bulgarian financial and insurance services provider Synthetica said on Friday that insurer Euroins Romania has decreased its stake in the company to 7.01%. more...

STATISTICS: ROMANIA, 1H2017: insurance market maintained its growth momentum

Romanian insurers reported a total GPW of RON 5.04 billion (about EUR 1.10 billion), up 8.02% y-o-y, in 1H2017, according to data published by ASF, the market maintaining its growth momentum. more...

Euroins Romania cuts stake in Bulgaria's Delta Credit

Sofia-based financial and insurance services provider Delta Credit said on Thursday that insurance company Euroins Romania has decreased its stake in the company to 34.60% from 46.54%. more...

STATISTICS: ROMANIA: GWP of EUR 567 million and a new market leader

Romanian insurance market totaled RON 2.56 billion (EUR 567 million) at the end of March 2017, up by 8.2% y-o-y, according to the quarterly market data published by the ASF. more...

ROMANIAN insurer NN Asigurari de Viata plans to enter Bulgarian market

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. more...

EUROINS Romania got regulatory approval to acquire the non-life portfolio of ATE Insurance

Romanian insurer EUROINS, part of Bulgarian-based EUROINS Insurance Group (EIG), will acquire the non-life insurance portfolio of ATE Insurance Romania, a PIRAEUS Bank unit, after Romania's ASF approved the transfer on July 4th 2017. more...

ROMANIA: Euroins buys Starcom bonds worth 700,000 euro

Bulgaria's Starcom Holding said on Thursday its subsidiary Euroins Romania has acquired a total of 1,423 Starcom bonds at a price of 1,000 levs (511,300 euro) each. Euroins Romania acquired three Starcom bonds on June 22 and a further 1,420 on June 27, Starcom Holding said in a bourse filing. more...

Anna GRZELONSKA is the new CEO of NN Life Insurance Romania

Anna GRZELONSKA, currently COO of Nationale-Nederlanden in Poland, has been appointed as CEO of NN Life Insurance Romania. She succeeds Marius POPESCU, who was appointed as CEO of NN Hayat ve Emeklilik. more...

Improvement in all key performance indicators for Vienna Insurance Group in the first quarter of 2017

Following the favourable results achieved in the financial year 2016, Vienna Insurance Group (VIG) can now also report very positive figures for the 1st quarter of 2017. more...

EC projection for 2060: Pillar I pension will decrease in all EU countries, except for Luxembourg and Denmark

The most recent report published by the European Commission, "The ageing of the EU - implications for pensions", has a bleak conclusion: Europe's population is ageing and, as far as pension costs are concerned, their share in GDP will reach 11.2% in 2060, compared with 11.3% in 2013, Falco VALKENBURG, Chairperson Pensions Committee, Actuarial Association of Europe, OPSG Member EIOPA, declared during the Private Pensions Workshop at FIAR 2017. more...

BAAR has paid nearly RON 200 million for ASTRA and CARPATICA Asig claim files

BAAR - the Romanian Motor Insurance Bureau has paid, in total, claims of nearly RON 200 million lei for more than 10.000 claim files of the bankrupt companies ASTRA Asigurari and CARPATICA Asig, stated Madalin ROSU, BAAR's President, at FIAR 2017. more...

Florin GOLOVATIC, ASF: "The following period will not be easy for the Romanian insurance market"

"I wish all of you good luck in the following months, because the next period will not be easy for the Romanian insurance market", Florin GOLOVATIC, Director, ASF - The Financial Supervisory Authority, declared during the Motor Insurance Conference at FIAR 2017, speaking to the professionals present at the event. more...

Digital claims self-assessment solutions bring benefits to all players

In the context of digitalization and its role in improving the claims assessments processes, Richard NATHSCHLAEGER, Region Manager Austria & Italy, Vice Chairman CEE Advisory Board, AUDATEX, presented, during the Motor Insurance Conference at FIAR 2017, a solution for digital claims self-assessment launched by Audatex. more...

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