British group Aviva, which operates on the Romanian insurance,private pensions, and investment management market, continues topursue organic growth and does not plan to make acquisitions,although development in Romania has been slower than that of rivalsING and AIG Life (currently Alico).
"Each player has its own strategy. We entered the market at theright time and our strategy was the right one. We are not targetingacquisitions, we will continue to grow organically," Andrea Moneta,CEO of Aviva Europe, told ZF during a few days' visit toBucharest.
The British group entered the Romanian insurance market ten yearsago, in 2000, shortly after Dutch-held ING and American-held AIG,which came in 1998.
Aviva ranked fourth last year in terms of gross underwrittenpremiums, with 101 million RON (24 million euros).
Since it entered the Romanian market, the British group has beenloss-making, with losses hitting 13.4m RON (3.2m euros) last year."Of course losses are not part of our strategy. Our long-termobjective is to become profitable. This moment will come, but weare talking about life insurance, which is different from generalinsurance," explains Andrea Moneta.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
