Dutch group NN, the leader of the life insurance segment in Romania, will also enter the general insurance segment - which includes, for instance, home insurance. However, it will not issue car insurance.

NN Asigurari, the branch to operate on this segment, has already received the approval of the Financial Supervisory Authority (ASF).

NN has been present on the Romanian life insurance market since 1997 and had a share of 36.58%, at the end of last year. Besides issuing life and health insurance policies, NN also manages Pillar II and Pillar III pension funds in Romania.

"NN Romania announces plans to expand its activity by entering the general insurance market. On July 15, NN Romania obtained the Financial Supervisory Authority's approval for the registration of the legal entity that will operate the new business line, according to the existing legislative framework. The full operating license process is expected to be completed this autumn," NN group confirmed in a press release.

editor@romania-insider.com

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