Mihai Popescu, the new CEO of Aviva life insurance company, whotook over the position yesterday, states that one of his targets isto turn the company around after the insurer has operated in thered since it entered the market, in 2000. In 2009, Aviva Asigurari,a subsidiary of Britain's Aviva group, posted losses of 13.4m RON(3.2m euros), from 21.3m RON (5.8m euros) in the previous year,with the decline amounting to 37%. "A company's losses aresometimes an indication of operated investments and this is alsothe case of Aviva. Turning profitable is one of the objectives ofmy term. We will keep a tight lid on costs and we'll be verycareful about all the investments we carry out," stated MihaiPopescu, 39, a former marketing manager of Alico Asigurari. Popescuis the first Romanian head of the British insurer, after thecompany was run by expats Carl Boehr and Shah Rouf. Aviva Asigurariranks 4th on the life insurance market, with gross underwrittenpremiums worth 101m RON (24m euros) in 2009, down 5% from 2008."Our 2010 budget stipulates rising gross underwritten premiums,"states Popescu.
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