Watford Insurance Enters Romanian Market

Watford Insurance Company Europe, a subsidiary of global insurance and reinsurance group Watford Re Ltd., launched its operations in Romania Wednesday.

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Imaginea articolului Watford Insurance Enters Romanian Market

Watford Insurance Enters Romanian Market

At first, Watford Insurance will offer motor insurance and ancillary products to retail and commercial customers. It then plans to expand its portfolio to include property, civil liability, accident and health, maritime and aviation insurance.

The company has externalized the administration of the Romanian operations to the local insurance provider Intaro Insurance Services. Its products are distributed via the local network of insurance brokers that currently broker more than 60% of the insurance volume in Romania.

“We decided to expand Watford Insurance operation in Romania following an in-depth assessment of the business environment and the regulatory framework and supervision. We plan to generate organic growth of the business and diversification of the portfolio, through products tailored to the needs of the market and the Romanian consumer,” said Valandis Elpidorou, the Legal Representative of Watford Insurance – Bucharest Branch.

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