While for Ethniki the transaction is part of its strategic plan aiming to focus on core markets and strengthen its activities in areas where it holds a significant competitive advantage, for SIGNAL IDUNA the acquisition of the majority stake in Garanta Asigurări company marks a significant step in the company’s development strategy and makes a major contribution to strengthening its position on the local market.
The transaction will be completed following the receipt of the necessary approvals from the Financial Supervisory Authority (ASF) and the Romanian Competition Council, as well as the fulfillment of the conditions of sale agreed by the parties.
Following the success recorded in 2021 through the acquisition and integration of the two ERGO companies, SIGNAL IDUNA continues and expands the repositioning process as an insurer that offers suitable insurance solutions for any need of Romanians. "With this recent acquisition, we mark a new significant stage in our journey, which rewards the success and positive results we have achieved in over 16 years of activity in Romania. We are thus taking another firm step towards consolidating SIGNAL IDUNA's position among the top insurers,” Tiberiu Maier, CEO of SIGNAL IDUNA Asigurare Reasigurare said.
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SIGNAL IDUNA operates in the insurance markets of Germany, Poland, Hungary, and Romania. The company started its operations in Romania in 2008. The current portfolio includes a wide range of products and services, both in the segment dedicated to individuals and in the Corporate and SME client segment. SIGNAL IDUNA (Romania) reported at the end of 2023 a volume of gross written premiums of over 274 million lei for health and life insurance and over 93 million lei for general insurance
Established in 1997 by Ethniki Asfalistiki, Garanta S.A. operates in both Life and Non-Life lines of business, providing a comprehensive range of products and services across all branches of insurance while delivering exceptional service to its customers in Romania.
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