GROUPAMA Poistovna launched on the Slovak Market

12 March 2009 — Oleg DORONCEANU
French-based GROUPAMA announced launch of GROUPAMA Poistovna on the Slovak market, which is a result of acquisition of OTP Garancia and its integration into the structure of the Group.


GROUPAMA Poistovna will focus on investing into the sales network and plans to improve its product portfolio in second half of 2009, with the aim to achieve dynamic market share growth. Key growth areas are expected to be new insurance products for entrepreneurs in agriculture and insurance of municipalities.

"Slovakia is a market with good growth potential for GROUPAMA and our ambition is to become one of the top 10 local insurance companies in the horizon of next 3-5 years", stated Erik NAGY, Director of GROUPAMA CEE operations.

GROUPAMA is one of the leading insurance companies, servicing more than 16 million clients worldwide and employing more than 38 000 people. In 2008, it reported revenue of EUR16.2 billion (growth of 9.2% compared to 2007) and operational profit of EUR 661 million, which is a growth of 66.1% compared to the previous year. The international operations generated revenues of EUR 3.9 billion (growth of 39% compared to 2007), with the Group sustaining its growth dynamic in foreign operations by investing in distribution, leveraging its expertise along with all available cross-border synergies and actively pursuing its acquisition strategy.

OTP Garancia has 140 employees, 5 offices in all regions of Slovakia (Bratislava, Komarno, Lucenec, Trencin, Kosice) and 66 sales representatives.

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