Porsche starts to sell insurance

Austrian group Porsche has brought its insurance company onto the Romanian market and is to soon start selling policies. The company will function as a subsidiary of the group, set up under the right of establishment that EU insurers benefit from. This right allows them to enter the EU markets by notifying the supervisory authorities in the state of origin and in the one where they wish to set up the subsidiary. Porsche’s insurance company will be launched this week via a press conference. The group’s local portfolio includes an auto importer, a bank, a financial leasing company, an operational leasing company and an insurance broker. According to previous statements from the Austrian group, the insurer will mainly sell comprehensive insurance policies.