SIGNAL IDUNA business launched in Romania

SIGNAL IDUNA Asigurari de Viata (SI RO) had its official kick-off in Bucharest on 27 October 2008. Numerous guests from politics and business, among others the German ambassador Roland Lohkamp, came to the opening gala held by the Dortmund/Hamburg SIGNAL IDUNA Group's latest subsidiary. Dr Klaus Sticker, member of the SIGNAL IDUNA's Board and chairman of the SI RO Advisory Board, said in his opening speech: "We would like to assign our experience and know-how to Romania and contribute to enabling people here to led a healthy life. It is our aim to position SIGNAL IDUNA Romania as a sound  and financially strong German company".

The SI RO is going to establish itself in a dynamically growing business segment that has a lot of catching up to do with annual growth rates of 20 to 30 per cent in the private insurance sector. The Company is offering private health care and accident insurance, as well as life assurance with a current inside and outside sales force of 50 employees.  Target groups are, for the most part, private customers from medium and higher income groups, as well as employers who want to gain or commit qualified specialists to their company by offering appropriate health care.

The main focus of business activity lies in private health care insurance.  Private health expenditure, in particular, is growing rapidly in Romania, but is only covered by a low range of insurance products. SIGNAL IDUNA Asigurari de Viata is going to expand to  become a strong brand name in this field, from which the underfunded Romanian health care system will also ultimately benefit.

SI RO is going to offer an integrated local health care concept that not only provides insurance benefits in in- and out-patient areas, but also guarantees customers' health care. The SIGNAL INDUNA Group is already offering this concept in the Polish market sucessfully, where the scheme has received an award as a "modern and innovative product".

Apart from the experience gained in Poland, SI RO can build on more than 100 years of market presence, as well as on sound  and financially strong backing from its German parent company. The SIGNAL IDUNA Group, founded by entrepreneurs in Dortmund and Hamburg at the beginning of the 20th century as a health care benevolent fund, is a declared specialist when it comes to insurance of the person. With a premium volume of approximately 4.5 billion euros and about 12 million insured persons and contracts, it is one of the major German insurance groups.

Dortmund/Hamburg, 28.10.2008
Press Office

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