“We do not want to be leaders on all insurance segments. Groupama Insurance wants to gain new clients by developing the home insurance market, considering that only eight percent of the housing units in Romania are insured,” the General Manager of Groupama Insurance, Denis Rousset, said.
He added that the home insurance market has a huge potential, but the degree of insurance coverage in the short-run will not near 100 percent. “The outskirts of towns are very interesting, in terms of potential clients, and we are already making offers to them,” the official added.
“Groupama Insurance was the third-largest player in the local industry at the end of the first six months, with a 9.6 percent market share. Our target is that, in the coming four years, we control one quarter of the general insurance market, except for the auto segment, and double our share on the life insurance segment, to 20 percent,” Rousset said.
The local insurance industry generated subscriptions exceeding €2.4 billion in 2008, and its main players are Vienna Insurance Group, which controls 29.7 percent through five companies, and Allianz-Tiriac, with a market share of nearly 15 percent.
