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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. 

 

Polish insurance broker Unilink takes over Romanian market leader

Polish Unilink, the main player on the Polish insurance market, reached an agreement to buy an 80% stake of Romanian market leader Safety Insurance Broker from its founder and main shareholder, Viorel Vasile, as a step towards building the largest insurance sales platform in Central and Eastern Europe.

Earlier in September, Unilink took over the largest Bulgarian player, I&G Insurance Brokers, also buying an 80% stake.  At that time, Unilink was operating exclusively on the Polish market.

"Our strategy is to take over the largest insurance distributors in our key markets in the Central and Eastern European region," says Igor Rusinowski, founder and president of Unilink.

Safety Insurance Broker operates the largest insurance distribution chain in Romania, with a market share of approximately 8%. It also operates in the Republic of Moldova. Viorel Vasile will keep 15% of the shares, the remaining 5% being in the possession of Robert Nita, the company's chief legal officer.

"The transaction will be completed somewhere in the middle of next year, probably in June, after the necessary approvals are obtained from the Competition Council and ASF," Viorel Vasile told Profit.ro.

Viorel Vasile will maintain his CEO position after the deal.

Unilink Group expects total insurance premiums of over EUR 650 mln this year, which will place it at the top of the insurance retail market ranking in Central and Eastern Europe. 

(Photo: Pixabay)

andrei@romania-insider.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. 

 

Polish insurance broker Unilink takes over Romanian market leader

Polish Unilink, the main player on the Polish insurance market, reached an agreement to buy an 80% stake of Romanian market leader Safety Insurance Broker from its founder and main shareholder, Viorel Vasile, as a step towards building the largest insurance sales platform in Central and Eastern Europe.

Earlier in September, Unilink took over the largest Bulgarian player, I&G Insurance Brokers, also buying an 80% stake.  At that time, Unilink was operating exclusively on the Polish market.

"Our strategy is to take over the largest insurance distributors in our key markets in the Central and Eastern European region," says Igor Rusinowski, founder and president of Unilink.

Safety Insurance Broker operates the largest insurance distribution chain in Romania, with a market share of approximately 8%. It also operates in the Republic of Moldova. Viorel Vasile will keep 15% of the shares, the remaining 5% being in the possession of Robert Nita, the company's chief legal officer.

"The transaction will be completed somewhere in the middle of next year, probably in June, after the necessary approvals are obtained from the Competition Council and ASF," Viorel Vasile told Profit.ro.

Viorel Vasile will maintain his CEO position after the deal.

Unilink Group expects total insurance premiums of over EUR 650 mln this year, which will place it at the top of the insurance retail market ranking in Central and Eastern Europe. 

(Photo: Pixabay)

andrei@romania-insider.com

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