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Ciurel, AXA: We want to become a top five insurer in three years

Autor: Ciprian Botea

12.05.2011, 23:39 102

AXA Life Insurance, a company that entered the Romanian marketlast year, when French giant AXA took over Omniasig Life, plans tobecome one of the top five players on the life insurance market interms of sales of new policies by 2014.

At the end of last year, the company had a 1.6% market shareand ranked 11th on the life insurance segment, an around half abillion-euro market.

AXA yesterday officially launched its local operations afterbuilding their sales network and developing their portfolio ofproducts in the last year. The French group also recruited a newmanagement team in 2010, headed by Violeta Ciurel, former head ofING Asigurări insurer.

AXA Life currently has a portfolio of around 45,000 insurancecontracts, most of which have been inherited from Omniasig. Theinsurer has 110 employees and works with 500 sales agents. Thecompany wants to reach 600 sales agents and a 30-branch territorialnetwork by the end of the year. So far, only four territorialbranches have been opened in Bucharest.

The French say they are planning an organic development of theirRomanian operations, with no new acquisitions targeted.

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