Patrick Lucas, the Frenchman who has been running Gras Savoyebrokerage group for 20 years, says France has more than 100 typesof mandatory insurance and that this is the only way to develop themarket. "(...) Without these policies, few people will buyinsurance and prices will be higher," explains Lucas in aninterview with ZF. The French group has been present in Romania for14 years, and in 2009 registered a 14% increase in the value ofbrokered insurance contracts, to 72m RON (gross underwrittenpremiums). For 2010, Gras Savoye projects a similar growth pacedomestically, so that the value of brokered policies may reach 82mRON. The French group's strategy is to enter fledgling markets,develop its business from scratch and then buy other brokerages.The same strategy may be applied in Romania, but the group has notspotted any acquisition targets, yet. "We haven't spotted anyacquisition target, yet. It's a question of opportunity", Lucassays.
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