The Romanian Post plans to enter the insurance brokerage market next year

The Romanian Post announced plans to become active on the insurance brokerage market in 2014, by founding the Broker Posta Romana branch, announced Ion Smeianu, general manager of the company.

“In all likelihood, the brokerage activity will start on January 1, 2014. The Romanian Post has already submitted at the Insurance Supervisory Commission the documents needed to obtain the running permit for this market,” said Smeianu, quoted by Mediafax newswire.

The Romanian Post GM estimates that the company will post a profit of EUR 22.5 million (RON 100 million) in 2014.

In 2012, the Romanian Post reported losses of nearly EUR 11.7 million (RON 52 million) to a turnover in excess of EUR 272 million (RON 1.21 billion). At the end of 2012, the Romanian Post had total debts of EUR 128 million (approximately EUR 568 million).

“At the end of the first nine months, the company was still in the red, but we hope, with the release of the October indicators, it will return in the black, after the salary fund of the company went down by 12 percent, as 3,650 employees were made redundant. At this moment, the Romanian Post has around 27,500 employees,” said Smeianu.

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Within a month, the Romanian Post will also open the first postal office in franchise, together with a partner.

The company will also start the Ghiseul Telecom (ed. note: The Telecom Desk) project, where it will sell the products and services of telecom operators. “The first requests in this sense came from Romtelecom and 2K Telecom. There will probably be similar requests from Orange and Cosmote. Posta Romana will gain from commission,” said Smeianu, quoted by Mediafax.

Following an investment of RON 180,000, the institution has opened a modernized postal office in Bucharest, located on Iancului Road, and another one on Banu Manta Blvd.

“For the first time for a postal office in Romania, the services dedicated to companies are separate from those offered to the population. We want to modernize another four offices in the capital, one in each sector, by the end of the year. We want to have such an office in every county, and we will try to make this happen next year, depending on the financial resources of the company,” said Smeianu.

The main shareholder of the Romanian Post is the Ministry for Information Society, while the other is the Proprietatea Fund, with a 25 percent stake. The company will be privatized in 2014.

 Otilia Haraga