12% Increase for Safety Broker

Safety Broker insurance brokerage company increased the share capital thereof from 25,000 lei to 300,000 lei, a level that is two times higher than the requirements stipulated by the new legislation in the field, norm no. 9/2015 of the Financial Supervisory Authority. The capital increase was notified to the Financial Supervisory Authority at the end of April, by the distribution of the amount of 275,000 lei from the net profit registered by the company in the fiscal year of 2014.

According to the new regulations on the authorization and operation of the insurance and/or reinsurance brokers, they should have a subscribed and paid up in monetary form with a value of at least 150,000 lei, as compared to 25,000 lei, as it was until the appearance of norm no. 9/2015.

“We welcome and support the measures aiming at the professionalization of the brokerage market and, implicitly, a better protection of the insurance consumers”, Viorel Vasile, CEO of the company, states.

Even in the context of the legislative changes at the beginning of the year, Safety Broker intermediated over the first quarter of this year gross premiums amounting to over 91.3 million lei (the equivalent of 20.6 million Euros), 12.06% more than the 81.4 million lei intermediated over the correspondent period of last year.

From the total subscriptions made over the first quarter of 2015, the mandatory civil liability insurance policies for motor vehicles (RCA) generated incomes of 69.4 million lei (as compared to 51.6 million lei in the first quarter of 2014), whereas the fully comprehensive car (CASCO) insurances contributed by 12.6 million lei.

Over the same time interval, the fire insurances and for other Acts of God brought to the company brokerage of almost 4.4 million lei, a 4.51% increase as compared to the first quarter of 2014.

“As we also announced last year, besides the business goals aiming at the consolidation of the position occupied on the Romanian brokerage market, Safety Broker will continue the process of transformation into an organization exclusively focused on the end clients. Because it is them that allow us to exist, and the satisfaction thereof is what allowed is to become the leader of the Romanian brokerage market”, the Safety Broker official concludes.


 

ABOUT US

Safety Broker is the biggest independent insurance broker with local capital operating in Romania. The company currently has a management team  with long-term experience in insurances and a strong territorial network in Bucharest, Alba, Arad, Argeș, Bacau, Bihor, Bistrita Nasaud, Botosani, Brasov, Braila, Buzau, Caras-Severin, Calarasi, Cluj, Constanta, Covasna, Dambovita, Dolj, Galati, Giurgiu, Gorj, Harghita, Hunedoara, Ialomita, Iasi, Ilfov, Maramures, Mehedinti, Mures, Neamt, Olt, Prahova, Satu Mare, Salaj, Sibiu, Suceava, Teleorman, Timis, Tulcea, Vaslui, Valcea and Vrancea. In 2013, the company also extended to the Republic of Moldova.

For further information:

Ramona Dobrescu

PR & Marketing manager
E-mail: ramona.dobrescu@safetybroker.ro
Mobile: 0758-258-630