Mihnea TOBESCU, about his objectives as CEO of EUROINS Romania

Starting October 1st, Mihnea TOBESCU is the new CEO of EUROINS Romania, according to the press release published by the company. Among his objectives, the new leader of EUROINS mentions the diversification of business lines and the company’s portfolio, which currently consists mainly in motor insurance (94%).

“I am very enthusiastic about my new position at EUROINS Romania. At the moment, the insurance market represents a challenging business environment which also offers the opportunity to prove that an efficient management can counteract the crisis’ effects which have affected the insurers for so long. I firmly believe that, together with the dynamic team of EUROINS Romania, we will have very good results, strengthening the company’s position on the Romanian insurance market,” said Mihnea TOBESCU.

Mihnea TOBESCU is one of the most consistent insurance managers in Romania, having led for more than 15 years AIG Romania, the Romanian non-life insurance division of the American International Group. Thus, Mihnea TOBESCU led the AIG operations in Romania through all the company’s evolution stages, starting 1997 – a year after the company’s entrance on the local market – through repeated changes and rebrandings.

At the beginning of 2010, AIG Romania changed its name into CHARTIS Romania, the brand under which AIG Europe has been working starting June 2009, and the company changed its status from subsidiary to branch of CHARTIS Europe.

“The objectives I aim to achieve together with my colleagues from EUROINS Romania include the diversification of the product portfolio and business lines that are important for the company’s development. All these will help us react easier to our clients’ needs”, added the new CEO of the insurance company.

EUROINS Romania ended the first half of 2012 with a 96% increase in underwritings, reaching RON 228 million, due to a 107% increase on the motor segment, with represents almost 94% of the company’s portfolio.

Before the naming of Mihnea TOBESCU, for the past three years, the CEO position was held by Iulius Alin BUCSA, which took over the management of ASTRA Asigurari as President at the middle of September.

EUROINS Romania is the former company ASITRANS, the rebranding taking place a year after the company was taken over by the Bulgarian group EUROHOLD, in the summer of 2007, for EUR 12.5 million.

Starting then, the Bulgarian group invested continuously in the development of its Romanian operations, this reflecting in the growth of market share, EUROINS ranking 6th among the non-life insurance companies in the first half of 2012.

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