Romanian Astra Asigurari and German Gothaer in race to insure Tarom’s fleet

Romanian insurance company Astra Asigurari and Gothaer Romania, the local subsidiary of German insurer Gothaer, have submitted offers to insure the fleet of Romania’s state airline Tarom, for the period September 1, 2014 to August 30, 2015, according to sources quoted by Mediafax. Tarom’s fleet in currently insured by Astra, which has won the contract in each of the last seven years. Tarom’s fleet is made of 24 airplanes and the insurance policy is worth about EUR 2 million per year. Last year, Tarom carried some 2.1 million passengers. Astra was the leader of the insurance market in 2013, with gross premiums underwritten totaling EUR 208.5 million. The company is indirectly owned by Romanian businessman Dan Adamescu. German group Gothaer entered the Romanian market in 2012, by taking over Platinum Asigurari. Last year, Gothaer Romania had gross premiums underwritten totaling EUR 15 million. The German group has a total of 3.5 million customers in Europe and annual revenues of EUR 4 billion. editor@romania-insider.com