SIGNAL IDUNA acquires the majority stake in Garanta Asigurări

SIGNAL IDUNA continues its expansion on the Romanian market and announces the signing of the agreement for the acquisition of a majority stake in the Garanta Asigurări company, whose main shareholder is The Ethniki, Hellenic General Insurance Company.

The transaction will be completed following the receipt of the necessary approvals from the Financial Supervisory Authority (ASF) and the Romanian Competition Council, as well as the fulfillment of the conditions of sale agreed by the parties.

Tiberiu Maier, CEO of SIGNAL IDUNA ASIGURARE REASIGURARE: “With this recent acquisition, we mark a new significant stage in our journey, which rewards the success and positive results we have achieved in over 16 years of activity in Romania. We are thus taking another firm step towards consolidating SIGNAL IDUNA’s position among the top insurers.

In an economic and social landscape characterized by major transformations, insurance has become an essential pillar for the stability and financial security of both individuals and companies. This paradigm shift requires a proactive approach and quick adaptation to market dynamics. In the business environment, agility and anticipation of changes are essential elements for success.

With a strong team and diverse expertise, we are ready to continue our strategic plans toward a digital future. We reconfirm our commitment to customers, offering complete insurance solutions and to partners, through the contribution we want to bring together to the development of the insurance market in Romania.”

SIGNAL IDUNA reported at the end of 2023 a volume of gross written premiums of over 274 million lei for health and life insurance and over 93 million lei for general insurance.