Australians at QBE could arrive through acquisition

Australian insurance company QBE Insurance is examining the possibility of entering the Romanian insurance market by means of acquisition. “QBE currently operates in eight Central-European countries and we are now interested in expanding our presence in the region, however we are yet to open an office in Romania” Helena Christopher, marketing and communication manager of QBE for Europe, told ZF. Currently QBE’s regional portfolio includes offices in Bulgaria, the Republic of Moldova, Ukraine, Hungary, the Czech Republic and Slovakia. “Expanding by means of acquisition is one of the growth strategies of the QBE Insurance group. That is why we are studying a large number of opportunities all over Europe, Romania included. But we cannot give you details on potential acquisitions on the Romanian market,” added Christopher. QBE Insurance showed an interest in Romania’s growing insurance market at the beginning of this year, when it notified the Insurance Supervision Commission (CSA) that it intended to enter the market directly, through its UK office.