The acquisition of 67% of Platinum’s shares is a key step in the development strategy of Gothaer in Central and Eastern Europe, and Platinum is an ideal platform to enter the Romanian insurance market, Gothaer CFO Jürgen Meisch said in a press release Monday.
The remaining shares are held by Constantin Toma, former general manager of insurer Omniasig, and Efraim Naimer.
The company will be rebranded as Gothaer.
Last year, Platinum Asigurari reported net profit of 296,000 lei (EUR65,000) and underwritten premiums of RON18.1 million.
Gothaer has over 3.5 million clients and an asset portfolio of EUR23 billion. Its annual underwritten premiums amount to some EUR4 billion. (EUR1=RON4.5646)