GOTHAER plans a takeover on the Romanian market. Their target is PLATINUM Asigurari, German sources said

10 January 2012 —
GOTHAER plans a takeover on the Romanian market. Their target is PLATINUM Asigurari, German sources said
gothaerThe German insurance company GOTHAER is interested in taking over the Romanian insurance company PLATINUM, owned by Constantin TOMA, former president of OMNIASIG, according to sources cited by Financial Times Deutschland. Contacted by XPRIMM, the officials of GOTHAER confirmed that, at the moment, they are carefully analyzing the local insurance market and they have already started negotiations, but they did not mention the company in question. "GOTHAER is now looking closer at the Romanian insurance market and we are in discussions. But these are still in a rather early stage, so we cannot give you any further information yet", declared Martina FASSBENDER, spokesperson for GOTHAER.

The German insurer GOTHAER plans to expand its business on CEE markets that still offer high growth rates in the insurance sector, such as Romania. The first step in this expanding strategy was the purchase of the Polish insurer PTU in 2010.

Contacted by XPRIMM, the representatives of PLATINUM Asigurari declared that they have no comments regarding the subject at the moment.

PLATINUM Asigurari-Reasigurari is a small Romanian insurance company whose main business consists in property, bonds and liability insurance, as well as marine and cargo insurance. For these insurance types and for others as well, the company offers both classical and specific, tailor-made products, positioning itself as a niche insurer.

At the present time, the company is owned by Constantin TOMA, who decided to retire last year from the position of President at OMNIASIG, a company which he leaded for 15 years, in order to focus on its own business in the insurance industry.

During the financial year 2010, the insurance company registered a total volume of gross written premiums of EUR 3.9 million, an increase of 46.7% compared to 2009.

PLATINUM is one of the main founders of PAID (the Pool of Insurance Against Natural Disasters), participating with 15% of the PAID share capital.

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