ROMANIA: GOTHAER Asigurari Reasigurari develops its 3 years mid-term strategic plan

At the end of 2018, GOTHAER announced a change of focus of the strategy regarding the group`s activity in Romania.

After 2 months of deep analysis and changes in the company`s management, GOTHAER completes its statement with some key-strategic aspects regarding the company's future presence on the Romanian insurance market.

With a new future CEO on board, Leslie J. BREER (subject to approval by the Financial Services Authority), GOTHAER is currently developing a new more sustainable business model and a 3 years business plan. Additionally a new CFO will join the company within the next weeks.

"We believe that any company should and must take a step aside from time to time to look over its activity in order to align it to the present economic conditions and also to the shareholders expectations. For that reason, Gothaer started to analyze its portfolio, lines of businesses, costs and company's performance overall in order to reshape its future development on the local market. Our key goal is to break-even and for that we have all the necessary tools and a great background in Romania", declared Dr. Christopher LOHMANN, CEO GOTHAER Allgemeine AG and Chairman of the Board of Directors of GOTHAER Asigurari Reasigurari.

One of the main pillars for this approach is the client centricity in all aspects for which GOTHAER is already known. The good image that the company has on the market and the level of customer satisfaction are valuable assets that the company counts on while developing its future strategy.

The GOTHAER management knows that the future strategy can be delivered with success by its team and with the support of its partner's brokers - which remain a top priority for the company and main sales channel.

"When talking about the future of Gothaer on the Romanian insurance market, one must take into consideration that the company benefits from important financial stability given from the Group it is part of and of its top rated reinsurers. We trust that our future plans will be carried on locally as forecasted in order to reach out our objectives. Solvency II requirements are being considered accordingly, applied and met in all aspects of our activity for the future business development. All the efforts invested during the last years in making Gothaer known and recognized as a trustful insurance partner are now paying off and it is time to look for the next, normal step: profitability", Dr, LOHMANN added.

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