City Insurance is 85.23% owned by Vivendi International, 7.87% by Nicolae Musat and the remaining 6.9% stake is distributed among individuals and legal entities.
Vivendi International SRL is 95% controlled by Dan Odobescu and 5% owned by Florin Dima.
Odobescu, the brother-in-law of Romania’s former prime minister Adrian Nastase, took over City Insurance at the end of 2012.
Odobescu, 59, had run UNITA Asigurari (currently UNIQA Asigurari) between 2004 and 2006.
Founded in 1998, City Insurance operates the general insurance sector. In 2011, the company’s underwritings rose over 30% to RON264 million. (EUR1=RON4.5535)