Grawe goes shopping

Life insurance company Grawe Romania has started talks for a new acquisition, after taking over Sara Merkur last year. “Discussions started a few months ago. We are currently negotiating with two insurance companies,” Peter Kasyk, general manager of Grawe told ZF. He did not specify which companies this statement was in reference to, only adding that the acquisition would be announced during a press conference to be held at the end of this year. By making this acquisition, Grawe seeks to enter the general insurance market. Kasyk says the takeover target could be a middle-sized insurance company, with a 3-4% market share. Three months into the year, this includes BT Asigurari (BT Insurance), AIG Romania and Generali. Sources from the market say Grawe is holding discussions to take over BT Asigurari, but the two parties deny this information.