Onix Asigurari SA (Romania)

Onix Asigurari SA was set up in 1998 under the name of Ceccar Romas SA, having its headquarter in Pitesti. CECCAR ROMAS company co-operated for the year of 2003 with Chaucer Underwriting A/S - Copenhagen. The Chaucer Group provides the management skills, expertise and capital required to underwrite insurance business at Lloyd's Syndicates - London. At the end of 2005, OTP Grup, through OTP Garancia BiztositĂł ZRT, buys over 99% of the stake in Asigurarea Ceccar Romas S.A. In the same year the name changes to OTP Garancia Asigurari. In January 2006, OTP Bank Romania SA also becomes a shareholder. In September 2009 the most important merge in the insurance market at this date was initiated, that between Asiban, BT Asigurari and OTP Garancia, companies acquired in 2007 and 2008 by the French group Groupama. BT Asigurari will absorb Asiban and the new company will absorb OTP Garancia by the beginning of 2010. Following this change, the brands of Asiban, BT Asigurari and OTP Garancia will be replaced by the new Groupama Asigurari. Thus Groupama Asigurari has the 3rd place in the insurance market, following Allianz-Tiriac and Omniasig.