Romania: FSA approves Cosmin ANGHELUTA'S appointment for a new mandate as Deputy General Manager of Gothaer

Among the decisions adopted by the Romanian Financial Supervisory Authority (FSA) Board at its meeting on 7 March 2018, the appointment of Cosmin ANGHELUTA for a new mandate as Deputy General Manager of Gothaer Asigurari Reasigurari was also validated.

Cosmin ANGHELUTA has been leading the company's sales force since 2012, holding key positions as Sales Manager of the Bucharest Branch - until 2014, and Executive Sales Manager - starting with 2015. In August 2016, he also took over the duties of Deputy General Manager of Gothaer Asigurari Reasigurari.

Cosmin ANGHELUTA has 20 years of insurance experience and, before joining Gothaer, he worked for ASTRA, UNITA VIG, and ASIROM.

In August last year, the FSA Board approved the appointment of Anca BABANEATA for a new mandate as General Manager of Gothaer Asigurari Reasigurari, and of Ionut BACIU as Deputy General Manager of the Company. The Supervisory Board of Gothaer Asigurari Reasigurari decided to renew their mandate contracts starting with 1 July 2017, for a 4-year period.

"Together we are a dynamic team, being involved in long-term projects and committed to our company's mission. Ever since Gothaer entered the local market, we have managed, through our strategy, to bring a new breath to the market, innovative products and quality services. Cosmin fits perfectly with the Gothaer management model and we know that we will be able to continue to build on what we have planned, adding value through everything we do", said Anca BABANEATA, CEO, Gothaer Asigurari Reasigurari.

The strategy that Gothaer used to enter the Romanian insurance market was based on the takeover of a small company, redirecting a high acquisition cost of a medium-sized insurer into investments in a modern, sustainable platform, aligned with the requirements of the German group to which it belongs, as well as with European quality standards. The insurer is still in the expansion stage, strengthening its local presence and operations, aiming to reach the break-even threshold and to gain profit in the years to come.

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