The Romanian subsidiary of the German insurance group Gothaer is working on a three-year plan aimed at reaching break-even by developing a sustainable business model, the company announced in a press release on March 14, Hotnews.ro reported.

A new CFO will join the subsidiary soon, namely Leslie J. Breer (subject to approval by the Financial Supervisory Authority).

The announcement comes after Gothaer group had commented at the end of last year about pulling out of Eastern European markets to focus on the German market.

“After two months of careful analysis and changes within the company's management, Gothaer can complete its statement with some key strategic aspects about the future presence on the Romanian market,” the press release reads.

Gothaer holds a share of only 1.9% of the local insurance market.

editor@romania-insider.com

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