“The acquisition of Gothaer Asigurari Reasigurari is concrete proof of Allianz-Tiriac’s commitment to the Romanian insurance market, even in troubled times,” said Virgil Șoncutean, CEO of Allianz-Tiriac Asigurari.
“We are ready to start the integration process as soon as possible after the merger project is approved and to become a single team that brings together the expertise of the two organizations for the benefit of customers, employees, distribution partners and shareholders.”
Allianz-Tiriac expects the integration to be completed by the end of 2022, once the merger approval stages and the process of integrating Gothaer Asigurari Reasigurari into the Allianz-Tiriac structure have been progressively completed. Until the completion of the merger, the two insurers will operate as two independent entities, in line with the rules of such an acquisition.
At the end of 2021, the Gothaer Asigurari Reasigurari portfolio is estimated at RON83.3 million. The deal was signed and publicly announced by the two parties in early December 2020.
(English version by Loredana Fratila-Cristescu)