According to Allianz-Tiriac general director Cristian Constantinescu, the perspectives of the local health insurance market depend on two major factors: the implementation of the public health insurance system, the degree of development of private medical services providers and Romanian authorities’ understanding of the need to delegate part of the responsibility for the management of public health funds.
The company felt it was the right time for expansion on the market encouraged by the initiatives for the resumption of the modernization of the legislative framework. Constantinescu said the company had managed to close quality partnerships with medical services suppliers. Allianz representatives expect the corporate client portfolio to be more dynamic because of the possibility of deducting the premiums from taxes within the annual limit of 200 euros per employee.
At the end of 2004, Allianz-Tiriac had a 21% share of the general and life insurance market with total sales of over 200 million euros.
