Maria Rangelova approved by ASF and takes over the position of Deputy General Manager of CertAsig

CertAsig announces the decision of the Financial Supervisory Authority (ASF) to appoint Maria Rangelova as Deputy General Manager of CertAsig, on 14th March 2018.Maria Rangelova

From this executive position, Maria Rangelova will manage operations in Bulgaria, coordinate broker management and underwriting activity for the classes of property& engineering insurance and liability insurance, at company level

Maria Rangelova, previously Country Manager in Bulgaria, has over 20 years experience in insurance and reinsurance on the Bulgarian market. Throughout 2017, she contributed significantly to CertAsig development and this was the result of consolidating a team of underwriting specialists in Sofia and following a careful broker-focused strategy targeting liability, property, engineering and bonds. As you remember, the bond insurance market only started in Bulgaria a few years ago (partially initiated by CertAsig) and we are already the market leader.

’’It is very pleasant to work in a favourable environment as the one provided by CertAsig! I am grateful to the management team and the Members of the Board, and personally to James Grindley (CEO), together with whom I am confident that I will be able to contribute to the sustainable development of the company! The Bulgarian CertAsig branch began working as a completely new business, and is now one of the main providers on the local market of innovative insurance solutions and specialist products, as it has benefitted from the extensive experience of the company portfolio and that of Romanian specialists. I am delighted by the new challenges and opportunities of working closely with the excellent teams of underwriters in our offices in Bucharest, Sofia, and Prague,” Maria Rangelova, Deputy General Manager of CertAsig, declared.

Previously, in December 2017, ASF had approved the appointment of Cristian Daianu as de Deputy General Manager of CertAsig.

’’I am proud and at the same time happy to work with these two excellent executive managers and share responsibility in running the company. I would like to thank all my 96 colleagues for their constant work and dedication. Although 2017 was a difficult year for the insurance market as a whole, at the end of the year, CertAsig had an increase in gross written premiums of 10% and paid indemnities of about 8 million euros. However, 2018 seems to be a better year. From the very first months of this year, CertAsig registered a slight increase in underwriting compared to the first quarter of 2017. Our strategy consists in promoting innovative products. In this sense, cyber insurance and customs bonds are key in our development,” declared James Grindley, CEO, CertAsig..

CertAsig is one of the few insurance companies registered in Romania, with an international presence. Our company’s main market is Romania, with 72% of gross written premiums, while 13% are generated by our operations in Turkey, and 15% in Bulgaria.

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