Signal Iduna, one of the largest financial groups in Germany, officially began evaluating its entry into the mandatory civil liability insurance policy for motor vehicles (RCA) market in Romania.

In recent years, the RCA market in Romania has undergone a series of significant changes, such as the adoption of essential legislative changes created with the goal of increasing transparency and protecting consumer rights. These measures were complemented by initiatives aimed at stabilizing policy prices and improving customer service. 

The company believes that the current market context, along with the trends of consolidation and transformation, provides a favorable moment for expansion.

“The demand for RCA products remained steady, supported by the mandatory nature of this type of insurance and the increase in the number of registered vehicles,” Signal Iduna representatives said.

The company also says it can provide customers with faster settlement of claims, allowing it to differentiate itself from competitors through the quality of services offered. The evaluation process includes a detailed analysis of the legislative and operational framework.

“Romania represents a market with significant potential, and the current dynamics of the RCA sector open new opportunities for companies that aim to offer innovative solutions and quality services. We are currently undergoing an in-depth analysis to determine whether we can make a meaningful contribution to the development of this sector, while also meeting customer expectations,” said Tiberiu Maier, CEO of Signal Iduna.

Signal Iduna was founded over 110 years ago and currently operates in the insurance markets of Germany, Poland, Hungary, and Romania. The company has been active in the local market since 2008, with services dedicated to companies and individuals.

radu@romania-insider.com

(Photo source: the company)