Specializing in The Field of Car Insurance
Comes a new car insurance company. The announcement of car insurance which has signed an MoU with Mapfre with which the Spaniards will come to 50% in the Duomo insurance. Following the joint venture Duomo will change name to Mapfre Auto Insurance and, after a series of intercompany transactions, will have a portfolio of over 1 billion euros in gross premiums written Cars on an annual basis, a distribution network over 1,400 agencies and shareholders’ equity opening of 400 million.
MCA, provide for the agreements, also hold 51% of ‘Say’, a company dedicated to the activities of call center opening and managing claims and 49% of Cattolica IT Services. Regarding governance, the Board of MCA will be to appoint half Catholic and half Mapfre. Catholic appoint the chairman and CEO for the first three years will Ezio Paolo Reggia current CEO of Catholic Insurance. A Mapfre task it will indicate the vice president and general manager.
News also from Fondiaria Sai, a company specializing in auto insurance. ‘The Fondiaria Sai close 2006 as expected and perhaps a bit’ better ‘says’ s CEO Fausto Marchionni, summing up of’ year draws to a close. The insurance group, estimates that for 2006 a premium of approximately 10 billion euros (about 9.5 in 2005), has maintained leadership in the Italian branch damage and RC car (which has a market share of 23 , 17%) and intends to increase the area of bancassurance.
The group is also to broaden its range of assets abroad: it is in advanced negotiations ‘s acquisition of Romanian company Asirom:’ There is some problem in the manner of disposal – Marchionni said – because the first shareholder is making an delisting ‘. ‘We are looking in Serbia and Russia – he added – but in these two countries is stronger than a country risk in Romania’. Major developments for class car, thus confirming that in the end things are not as bad as the companies would have you believe.
