Interamerican becomes Eureko
Interamerican Romania - part of the Eureko Group since 2001 – officially re-brands to its parent company name, EUREKO at the beginning of February. The re-branding process is part of a broader strategy to consolidate the company’s strong position on the Romanian insurance and pensions market.
Eureko today has more than 350,000 clients in Romania, with active policies in Insurance or Pensions Pillar II.
Following the success achieved in II Pillar Pensions, and the significant growth achieved in its Health business, Eureko announced its plans for further expansion in Romania in 2009, and beyond.
Eureko will focus on selected target segments, namely Pensions, Health and Life Insurance. This will be achieved in several steps:
In Pensions – in 2008 the group already announced its entrance to the III Pillar voluntary private pensions market with the launch of EUREKO CONFORT - a medium-risk fund. This will be followed by the second fund, EUREKO ACTIV - a high-risk fund, later in the year.
New Life Insurance products will be launched during the year, starting with a new Unit-Linked product, with an option to choose a guaranteed fund for more cautious investors, in February 2009.
Eureko will stop underwriting some lines of Non-Life business from 1st May 2009, namely Property, Motor, Liability and Cargo – to concentrate its efforts on core business lines.
During 2009, Eureko will further expand its already extensive network of medical services providers throughout the country, with selected partners, thus offering our clients even more choice in provider selection.
Significant investment will be made in strengthening the Brand and in Distribution. A comprehensive marketing campaign will be launched mid-February to firmly establish the brand of Eureko in Romania.
Eureko will further develop its distribution capabilities by re-structuring its agent network, enhancing its corporate sales channel (launched at the end of 2008), and extending its co-operation with brokers and distribution partners.
In addition, several business development projects are underway, to support Eureko’s renewed focus and plans for growth.
At the end of 2008, the Merger / Integration of the Bankpost pension fund was announced, this will be completed in the 1st half of 2009.
During 2009, Eureko will also invest in expanding its Proprietary Health Services under the Euroclinic brand. Both the number of facilities and also the range of treatments offered will grow significantly.
A lease agreement for a new headquarters building has been signed – Eureko will move into these new premises in the 3rd quarter of 2009. The lease has been signed with a minimum term of six and a half years, running until 2016.
Several other business development projects are underway, and these will be announced throughout the year as they are finalised.
Commenting on the developments, Frans van der Ent, Country Manager for Eureko in Romania said, “2009 will be a challenging year for all businesses in Romania. We are delighted that we are supported by a shareholder that is willing to invest in its long term future in Romania. For Eureko, in Romania, this is a challenging, but also an exciting year with so many developments and initiatives in place”.
Established in 1995, Interamerican Romania became a member of the large Eureko Group in 2001, and in June 2008, the company's share capital was increased by Eur 9.5 millions. Eureko’s solvency ratio remained stable for the half of 2008, at 203 per cent.
Eureko is a solid European financial group, registered in Utrecht, The Netherlands, which operates in 13 countries, and with more than 24.000 employees. With a net profit of 979 million euro in 2007, Eureko is one of the largest financial groups in Europe, whose main activities are Insurance and Pensions.
For more information, please contact:
Claudia Mihalaşcu, Senior Account Manager
Ogilvy Public Relations Worldwide/Bucharest
Office: +4021 20 10 120
Mobile: +40 753 51 64 20