SAR Transilvania becomes BT Asigurari

SAR Transilvania, an insurance company part of the Banca Transilvania Group will change its name to BT Asigurari Transilvania, to underline its group membership. The company has some 300,000 euros set aside for rebranding. “SAR Transilvania has notified the Insurance Supervision Commission of plans to change its name to BT Asigurari Transilvania but has not submitted the necessary documents yet,” Supervision Commission sources told Ziarul Financiar. Banca Transilvania, which is based in Cluj-Napoca, holds 20% in SAR Transilvania. The other shareholders are non-resident individuals, who own 22% in addition to Romanian individuals and legal entities – 58%. The BT Financial Group, centred on Banca Transilvania, also comprises a leasing company, a securities firm and a consumer lending company, BT Leasing, BT Securities and BT Direct. ZF