The transaction is pending regulatory approval, the insurer said in a statement Friday.
Currently, Gothaer owns 82.3% in the local unit, while the rest of the shares are equally owned by Constantin Toma and Efraim Naimer.
Gothaer entered the Romanian market in 2012, when it bought 67% in Platinum Asigurari from Toma, the company’s chairman, and Naimer, a member of the board. Gothaer later raised its stake in the rebranded Gothaer Asigurari Reasigurari to 82.3% following a capital increase.
Last year, Gothaer subscribed premiums of 66.72 million lei (EUR15 million), from RON37.96 million in 2012.