The Romanian arm of the French insurer AXA Group will invest RON 61 m (€13.8m) this year to open new offices, recruit consultants and increase its brand value, aiming at the same time aiming to double the volume of gross written premiums to RON 49 m (€10.9m).
The volume of gross written premiums grew 22 percent year-on-year to RON 25 m (€5.6m) last year.
Violeta Ciurel, CEO AXA Life Insurance said the life insurance market stood around €37m last year and will probably remain flat this year.
French AXA Group entered the Romanian market in 2010 through the acquisition of Omniasig Asigurari de Viata from Vienna Insurance Group. It later became AXA Life Insurance.
