Constantin Toma, 48, one of the most powerful people in the insurance industry and Omniasig’s general manager for fourteen years, could leave this position soon, sources on the insurance market say. Vienna Insurance Group verified the information.
“Vienna Insurance Group is in talks with Mr. Toma over his ending of his term at the end of this year,” said Alexander Jedlicka, PR representative of Vienna Insurance Group.
Toma was elected chairman of the group of companies that will manage mandatory home insurance, even though Omniasig, controlled by Vienna Insurance Group is not part of it.
The quoted sources say this is the way one of the longest-standing managers of one of the biggest insurance companies in Romania, who practically contributed to the creation of a 2 billion-euro market, will choose to withdraw from his position as Omniasig CEO. Omniasig is the second-leading company on the general insurance market, with 328 million-euro business and a 38 million-euro profit last year.
Constantin Toma, however, says that this information is nothing but “pure speculation”. “Should something change soon, I will let you know,” he answered to ZF’s request for comment.
The group of companies that will manage the mandatory home insurance under the name of PAID (Disaster Insurance Pool) does not include the biggest names in the insurance business in Romania – Vienna Insurance Group, which owns Omniasig, Asirom and BCR Asigurari, and Allianz-Tiriac.
“Vienna Insurance Group’s participation to this business is still under debate. A final decision has not been made yet,” Constantin Toma explained.
He joined PAID as a representative of an insurance company controlled by Efraim Naimer, an Israeli businessman who represented Israeli investment fund GTC while it was a shareholder of Omniasig.
Omniasig was bought from GTC by the Austrians at Vienna Insurance Group, formerly known as Wiener Staedtische.

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