Groupama, the third largest insurer in the wake of recordinvestments of above half a billion euros operated by French groupGroupama, will be run by a Romanian manager starting this autumn,after its operations have been coordinated by an expat since itentered the Romanian market. The current general manager, DenisRousset, 44, will return to Paris in November, where he will hold amanagement position with the group. He will be replaced by SandaNicoară, 51, currently deputy general manager with GroupamaAsigurări. The French group first tackled the Romanian insurancemarket in late 2007, when it paid 100m euros to take over BTAsigurări. In April 2008, it took the entire market by surprisewhen it won the tender for the acquisition of Asiban with a350m-euro bid, double the value of the company's turnover.Meanwhile, Groupama has regionally taken over the insurance arm ofHungary's OTP group, present in Romania through OTP Garancia. Thethree companies merged last summer.
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