Safety Broker, BAC Romania launch insurance e-store

It took three years to develop the goya.ro e-store, Safety Broker said in a statement.

"We decided to take part in the goya.ro project mainly due to the significant long-term growth potential of the Romanian online insurance market," the statement quoted Arin Ion, partner at BAC Romania, as saying. He added that less than 3% of the non-life insurance policies in Romania are bought via the web.

Safety Broker is an independent Romanian insurance brokerage that has a franchise network across the country. The company reported a 50% growth in gross written premiums in the first nine months of 2012, reaching some 23.5 million euro.

Investment bank BAC was founded in 1998 as part of Europa Capital Management (ECM) and spun off in 2000. It is active in Bucharest, Belgrade, Sofia, Skopje and Minsk.

($ = 0.7651 euro)