Insurance company Gothaer Romania will insure the fleet of Romania’s state airline Tarom, for the period September 1, 2014 to August 31, 2015, the company’s representatives told local Mediafax. The airline’s fleet comprises 24 airplanes.

For privacy reasons, the insurer hasn’t revealed information about the insurance policy, such as the value of the insurance premium or the insured amount. Tarom’s fleet used to be insured by Astra, which has won the contract in each of the last seven years.

German group Gothaer entered the Romanian market in 2012, by taking over Platinum Asigurari. Last year, Gothaer Romania had gross premiums underwritten totaling EUR 15 million. The German group has a total of 3.5 million customers in Europe and annual revenues of EUR 4 billion.

Irina Popescu, irina.popescu@romania-insider.com