Signal Iduna to enter the Romanian health insurance market
The German financial insurance and services group Signal Iduna received the initial functioning authorization from the Commission responsible for Insurance Surveillance (CSA) and it starts, in a few months, activity in the Romanian insurance market, following an initial investment of EUR 20 M, as declared by the general manager of Signal Iduna Services, Sorina Niculescu, according to Business Standard. “Since Signal Iduna is among the most significant German health insurers, the company intends to become a market leader in Romania, in the field of voluntary health insurance”, the company representative added. The product portfolio of the new player in the Romanian market includes a large range of traditional and unit-linked life insurance and accident insurance, as well as additional insurances. In 2006, the German insurer set up Signal Iduna Services in Romania, whose activity focuses on drafting market surveys and business plans, as well as necessary documents for receiving the functioning authorization from CSA.