Thus, the Supervisory Authority said it had authorized “the approval of Allianz-Tiriac Asigurari as a significant direct shareholder of Gothaer Asigurari and the approval of Mr. Virgil-Vasile Soncutean as non-executive member and chairman, as well as of Mrs. Adriana-Mihaela Matache and Mr. Aurel Badea as non-executive members of the Board of Directors of Gothaer Asigurari”.
Allianz-Tiriac representatives announced in late November 2021 that the takeover of Gothaer by Allianz-Tiriac had received the two necessary approvals, namely that of the Competition Council and the ASF.
Allianz-Tiriac expects the integration to be completed by the end of 2022, once the merger approval stages and the process of integrating Gothaer 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.
The approval of the acquisition does not affect the relationship with customers or their insurance contracts with either company.
At the end of 2021, Gothaer Asigurari Reasigurari’s portfolio is estimated at RON83.3 million.
The takeover deal was signed and publicly announced by the two parties in early December 2020.
(English version by Loredana Fratila-Cristescu)