Ciurel, AXA: We want to become a top five insurer in three years

AXA Life Insurance, a company that entered the Romanian market last year, when French giant AXA took over Omniasig Life, plans to become one of the top five players on the life insurance market in terms of sales of new policies by 2014.

AXA yesterday officially launched its local operations after building their sales network and developing their portfolio of products in the last year. The French group also recruited a new management team in 2010, headed by Violeta Ciurel, former head of ING Asigurări insurer.

AXA Life currently has a portfolio of around 45,000 insurance contracts, most of which have been inherited from Omniasig. The insurer has 110 employees and works with 500 sales agents. The company wants to reach 600 sales agents and a 30-branch territorial network by the end of the year. So far, only four territorial branches have been opened in Bucharest.

The French say they are planning an organic development of their Romanian operations, with no new acquisitions targeted.