Unita engages in aggressive expansion

Becoming one of the top four or five insurers on the market, by an aggressive expansion on both life and non-life insurance segments. This is the target pursued by Unita, a company part of Austria’s largest insurance group, Wiener Staedtische. “We intend to increase our market share to 12% until 2005. We will heavily push the goods and life insurance by new products, we will expand our sales networks and channels and will implement a modern portfolio management software,” said Daniel Stan, Unita general manager. This effort will be based on the financial and logistics support from the Austrian shareholder, which increased Unita’s share capital by 6 million euros to 394bn ROL, this May. “We expect significant growth next year, which should primarily come for countries like Romania, Bulgaria or Serbia, ” Guenter Geyer, Wiener Staedtische general manager on Monday said. According to Geyer, the policy of the Austrian group is to invest in the country where the insurance premiums collected come from, which contributes to economic growth. ZF