City Insurance S.A. is the leading Romanian general insurer with 17% market share. It was founded in 1998 by a group of investors and is headquartered in Bucharest. The company employs 400 people and operates 42 offices and branches, providing comprehensive non-life insurance solutions.
City Insurance has become an industry leader by capturing the trust and appreciation of most Romanians in its unique approach of delivering tailor-made insurance products and high-quality services addressing specific client needs. Strong incentivization and loyalty, combined with use of latest technologies create the most dynamic solutions for our clients.
Its international management team, since 2017, has inaugurated a new promising chapter in a two-decades-long history bringing and integrating global best practices and strong core business values. City Insurance’s business culture is fueled by highly-experienced global business personalities achieving outstanding customer service standards and steady growth, confirmed by our recent market outperformance.
The company has been consistently included in the Top 10 Romanian Insurance Company Rankings and is the only company in the country not affiliated to a multi-national conglomerate. In 2008, City Insurance became the first Romanian Insurer to develop activity in different EU states, while in 2014 it expanded to the challenging Greek market.
Maintaining strong transnational outlook, City Insurance evolves into a South Eastern Europe’s insurance regional leader serving as a Romanian business ambassador.
SOCIETATEA DE ASIGURARE-REASIGURARE (S.A.–R) City Insurance S.A. was founded in 1998 by a group of investors with a vision to create the country’s first independent Romanian insurance company. Since its foundation, it has been headquartered in Bucharest and currently operates 42 offices and branches around Romania, directly employing 400 people.
As Romania joined the European Union in 2008, City Insurance quickly reviewed the emerging opportunities of the free movement principle and became the first insurance company in the country to expand its activities to the EU member states. This is the point when City Insurance commences selling specific insurance products transnationally.
2009 was a very active year for the company as it adopted an intensive strategy focusing on growth development. City Insurance explores neighboring insurance market segments and consequently expands considerably its product portfolio. Furthermore, the company becomes a founding member and shareholder of the Natural Disaster Insurance Pool [PAID]. Thus, City Insurance starts to develop and offer competitive voluntary home insurance products supplementing mandatory policies that cover the three major risks in Romania; earthquake, flood and landslide. The same year, the company receives authorization to sell mandatory motor third party liability [MPTL] policies. Thus, since 2010 the company offers a complete range of insurance products and services.
In 2011, City Insurance delves into the online space by investing and launching CitySmart.ro. The online sales system starts to provide specialized insurance products to both businesses and individuals utilizing technologies that offer speed, directness and ease of use
2012 finds City Insurance featured, for the first time, among the Top 10 Romanian Insurance Companies rankings. It will be featured every year from then on with an ascending position.
In 2014, City Insurance expands to the Greek insurance market and has ever since optimizing its services in motor and property insurance solutions in this challenging market.
Between 2015 and 2017, Dan Odobescu, the main shareholder of City Insurance and a highly experienced self-made businessman starts to pave the way for the building and assembling of an internationalized professional team with a view to concluding his own management cycle and passing the torch on to a new generation of business executives.
Since 2017, City Insurance’s new international executive team assumes the management of the company bestowed with the legacy and mentorship of Dan Odobescu who is now maintaining a consultative non-executive role. This new era of stronger economic performance has positioned the company on top and ahead of the challenging competition posed by multinational insurance conglomerates.
City Insurance supports professional sports teams from Romania and abroad. Our company is the main sponsor of FCSB (from Bucharest) – the most popular football Romanian soccer team. We have another noteworthy partnership with Syros Volleyball Club – one of the best known volleyball teams in Greece. City insurance helps sportspeople achieve their best performances.
As part of its CSR strategy, City Insurance proudly supports community-legacy programmes that make a meaningful difference and secure a stable and secure future for the community. For example, in 2018, the company initiated a partnership to support the work of Hope and Homes for Children Foundation, an organization active in deinstitutionalization aiming at preventing the separation of children from their families.
The success that City Insurance currently enjoys has confirmed the efficiency of its performance model, permanently oriented toward sustainable development strategies, long-term investments and steady financial growth.
S.A. – R City Insurance S.A.
Bucharest, 1st District, 5-7 Constantin Aricescu Street, Ground Floor – Underground
Telephone: +4021.231 00 54/021.231 00 79/021.231 00 90 Fax: +4021.231 04 42
Authorized by the Financial Supervisory Authority: RA-008/10.04.2003
National Trade Register Office registration number. J40/3150/1998; Unique Registration Code 10392742
Subscribed and paid share capital: 93.284.350 RON