Allianz-Tiriac, the second largest insurer on the Romanian market, said in December 2020 it had signed an agreement with German Gothaer Group to acquire 100% of its Romanian subsidiary Gothaer Asigurari Reasigurari.
This is Allianz-Tiriac’s first acquisition after 25 years of organic growth.
The price of the deal has not been disclosed.
Gothaer Asigurari Reasigurari, based in Bucharest, entered the Romanian market in 2012 and sells its non-life insurance products primarily through brokers and multiple agents.