The Board of Directors of Allianz-Țiriac Asigurări has approved the extension of Virgil Șoncutean’s term as General Manager of the company. The new mandate is pending approval from the Financial Supervisory Authority (ASF).

„I am honored to continue this journey alongside Allianz-Țiriac’s team for a fourth mandate. I appreciate the Board of Directors’ trust and am especially grateful to my colleagues, alongside whom I am fortunate to work every day. Together, we have built a strong company that successfully meets our clients’ needs. The significant growth in gross written premiums and profitability reflects our commitment to delivering quality services and tailored solutions, as well as our financial strength, which enables us to always keep our promises to clients. We look to the future with confidence and we are determined to continue our success story”, said Virgil Șoncutean, CEO, Allianz-Țiriac Asigurări.

Over the past nine years at the helm of Allianz-Țiriac Asigurari, Virgil Șoncutean has developed and implemented strategies that have contributed to the company’s substantial growth. The company’s gross written premiums tripled, reaching 3.7 billion lei at the end of 2024, profitability has increased fivefold in the past nine years, while the customer base has also increased fourfold, now exceeding 1.6 million clients. At the same time, during his tenure, Allianz-Țiriac doubled its market share in the life insurance segment and completed its first acquisition by taking over Allianz-Țiriac Unit Asigurări S.A. (formerly Gothaer Romania).

According to ASF, at the end of 2024, Allianz-Țiriac had 18.6% market share and ranked second in the Romanian insurance market based on gross written premiums in both general and life insurance segments. Allianz-Țiriac operates as a joint venture, reflecting a strong partnership between Allianz Group (holding 52.16% of shares) and Țiriac Asset Holdings Limited (holding 44.79% of shares).