Millenium Insurance Broker to list its shares at BVB in Q2 this year

Millennium Insurance Broker, with Autonom group as the main shareholder (31.16%), will list its shares on the AeRO market of the Bucharest Stock Exchange (BVB) in the second quarter of this year, according to Profit.ro, quoting sources familiar with the deal.

At this moment, Transilvania Insurance Broker is the only broker listed on the Bucharest Stock Exchange.

"We want to expand the shareholder base in the next two months, so in the second quarter of 2022, the company will be listed on the AeRO market at BVB. Most importantly, along with our strategy of contributing to market consolidation, because at this moment it is extremely fragmented. There are 300 brokers, and probably dozens more will appear in the coming years," explained Dan Ștefan, co-founder of the Autonom group, which provides car rentals and related services.

Millennium Insurance Broker (MIB), established in 1997, ranked as the 9th largest player by the volume of premiums generated in 2021, with a share of 2.42% of the general insurance brokerage market.

Autonomous Group, controlled by Marius and Dan Ștefan increased its participation in the Millennium Insurance Broker (MIB) shareholding from 17.5% to 31.164% last summer.

(Photo: George Calin/ Inquam Photos)