UniCredit Tiriac Bank and Ergo Asigurari de Viata have started to sell life insurance through the lender’s branch network, the bank’s representatives have announced. Their bancassurance activity in Romania is part of a larger cooperation on European markets between UniCredit and Ergo groups.
It will complete UniCredit’s range of financial products and mark Ergo Asigurari’s entrance on the Romanian market.
“Although Romania is facing a difficult economic period, ERGO’s engagement is a long-term one, considering the attractive potential of the local insurance market,” said Ina Cretoiu, CEO of Ergo Asigurari de Viata. In the first stage, UniCredit Tiriac Bank branches will supply unit-linked Ergo LifeInvest products.
The two companies intend to expand their range of common products.