Romania's Life is Hard buys 10% stake in Pointer Systems

By integrating Pointer Systems' services into its insurance distribution ecosystem, 24broker marketplace, Life is Hard aims to tap into a network of over 11,000 insurance agents, amplifying market reach and driving growth for both entities, said Catalin Chis, CEO of Life is Hard.

Pointer Systems, established in 2008, specialises in providing emergency assistance services for unforeseen domestic or mobility-related events. The company achieved revenue of about 1 million euro in 2023.

Life is Hard was established in 2004 in the northwestern county of Cluj and is listed on the AeRO market of the Bucharest Stock Exchange. The company's net profit rose 38.3% on the year to 6.4 million lei ($1.37 million/1.29 million euro) in 2023.

Life is Hard's shares traded 1.54% higher at 2.64 lei as at 1342 CET on Wednesday on the Bucharest bourse.

($=0.939830 euro)