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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Database of Romanian bankrupt insurer City stirs interest from investors

Romanian bankrupt insurer City Insurance, which generated losses evaluated by Ziarul Financiar daily at EUR 500 mln, owns a special asset that already stirred the interest of several investors - the client database.

At least two insurance companies, one of which is foreign, are interested in the City Insurance portfolio, which they would like to acquire after the bankruptcy proceedings begin, according to converging sources consulted by Economica.net.

One of the prospective bidders is Allianz Țiriac, the most profitable and solid insurance company in Romania. The other one, which prefers to remain anonymous so far, is a small fintech insurer that would make its debut on the Romanian market.

City Insurance, the leader of the insurance market in Romania with 3 mln customers in the segment of mandatory car insurance (RCA) alone, recently lost its authorization. Its bankruptcy procedure will be opened, given that ASF has decided to file an application in this regard.

andrei@romania-insider.com

(Photo source: Zerbor/Dreamstime.com)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Database of Romanian bankrupt insurer City stirs interest from investors

Romanian bankrupt insurer City Insurance, which generated losses evaluated by Ziarul Financiar daily at EUR 500 mln, owns a special asset that already stirred the interest of several investors - the client database.

At least two insurance companies, one of which is foreign, are interested in the City Insurance portfolio, which they would like to acquire after the bankruptcy proceedings begin, according to converging sources consulted by Economica.net.

One of the prospective bidders is Allianz Țiriac, the most profitable and solid insurance company in Romania. The other one, which prefers to remain anonymous so far, is a small fintech insurer that would make its debut on the Romanian market.

City Insurance, the leader of the insurance market in Romania with 3 mln customers in the segment of mandatory car insurance (RCA) alone, recently lost its authorization. Its bankruptcy procedure will be opened, given that ASF has decided to file an application in this regard.

andrei@romania-insider.com

(Photo source: Zerbor/Dreamstime.com)

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