Clal Romania gets rebadged as Platinum Asigurari Reasigurari

Platinum Asigurari Reasigurari is the new name and identity of the former Clal Romania, representatives of the insurer announced last week. The company intends to focus on non-car insurance products,in response to the recent evolution of the Romanian insurance

market.

“In this context, our objective is to offer tailor-made insurance programs to our customers, in order to cover a wide range of their needs. We won’t neglect car insurance. We will remain in minimum contact with it but we expect this market – which makes up more than 75 percent of the total market insurance – to stabilize and reach normality,” said Efraim Naimer, CEO of Platinum.

He added that the company intended to continue to develop insurance products to complement its portfolio, both on the well represented and more peripheral

strands of the Romanian market insurance.

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According to Anca Babaneata, deputy CEO of Platinum, the company has identified an opportunity on the SME and individuals segment.

“We therefore intend to promote our current products but also new ones for which the company has received the license from the Insurance Supervisory Commission, such as marine and nautical, aircraft, credit and assurance, performance bonds and medical insurance,” said Babaneata.

According to the deputy CEO, the company intends to reach a EUR 5-6 million in premiums this year and EUR 15 million in the next three-four years.

The firm posted over RON 11 million in turnover last year, and has seen investments of over RON 65 million since its entrance on the local market, back in 2006.

Insurance Supervisory Commission approved the takeover of Clal Romania by a private investors group in October last year.

At present Platinum is a new general insurance company built on the structure of Clal Romania with its whole capital being Romanian.

The main stakeholder is Vienna International Holding, a company specialized in financial services.

Anda Dragan