Insurer Grawe Romania will enter the car insurance segment this year, which is the biggest segment in the local insurance market. The company is part of the Austrian group Grawe.

“We will not apply a strategy for rapidly increasing our market share,” Grawe Romania’s board president Paul Swoboda said, cited by local Ziarul Financiar.

“Our medium-term policy is to have a balanced portfolio on all our business lines, namely life, property, and automotive.”

The authorization process for the car insurance segment will last a couple of months.

The Austrian group posted a turnover of EUR 7.6 million at the end of September 2015 and a net profit of EUR 529,000. Grawe is present in the motor insurance sector in Austria, Slovenia, Croatia, Bosnia, Ukraine, and Moldova.

editor@romania-insider.com

(photo source: Grawe Romania Asigurare on Facebook)