With a portfolio of over 600,000 policyholders, including both individuals and businesses of various sizes and industries, Signal Iduna is a trusted partner for moments when they need financial protection. The two Signal Iduna companies in the local market covered payments worth over RON 165 million in 2023 alone, thereby significantly contributing to improving the quality of life for Romanians.
2023 was a significant year for Signal Iduna, marked by the celebration of 15 years of activity and the launch of an extensive rebranding process in the Romanian insurance market. This evolution was driven by the acquisition of ERGO companies and the expansion of the portfolio with new lines of general insurance products. Throughout the entire year, Signal Iduna focused on team synergies, process integration, and workflow optimization to successfully manage a complex and comprehensive insurance portfolio. Simultaneously, customizing solutions for companies and digitization remained constant priorities. Through these initiatives, the company delivered reliable and innovative insurance services, strengthening its position in the market, and reaffirming its commitment to customers and partners.
Signal Iduna Asigurare Reasigurare, the market leader in health insurance for the fourth consecutive year, recorded a 34% increase in gross written premiums compared to 2022, reaching over RON 274 million. The consistent growth is a clear demonstration of the trust that customers and partners have in the products and services offered by the company.
Through active involvement in the continuous development of offerings, Signal Iduna assumes the role of a trusted partner, reaffirming a strong commitment to the success and well-being of Romanians.
In 2023, Signal Iduna covered medical services worth over RON 149 million, marking a 36% increase compared to the previous year. The success of this growth reflects the positive impact the company has on improving the health status of over 200,000 insured individuals in its portfolio, providing them with a stability anchor by alleviating the financial pressure associated with unforeseen medical events such as health issues or accidents.
In Romania, issues related to cancer, hospitalization, and surgical interventions are major priorities in the healthcare field. Signal Iduna addresses these challenges by providing a comprehensive ecosystem of solutions, including easily accessible and digital optional health insurance, telemedicine services, second medical opinions, a vast network of over 1,400 private medical providers nationwide, as well as treatment options within the European Union and Turkey.
Policyholders benefit from the dedicated Signal Care Assistant app for efficient management of health insurance and three methods of accessing medical services - direct settlement, reimbursement, and the Easy Pay card, where the insurer loads the required amount in advance for payment at the medical provider.
Signal Iduna is focused on providing customized health insurance solutions for companies of any size and industry. This means that small and medium-sized enterprises (SMEs) can now benefit from the same opportunities for employee attraction and retention as corporations.
Signal Iduna Asigurari, with a diverse portfolio of general insurance for individuals and companies, recorded a 32% increase in gross written premiums in 2023 compared to the previous year, exceeding RON 93 million. Aligned with the strategic directions adopted, this growth was supported across all lines of business, with the largest increases seen in personal professional liability insurance (78%), home insurance (32%), professional liability insurance for legal entities (28%). Additionally, there was growth in travel insurance (27%) and building and property insurance for companies (25%).
"The year 2023 was marked by significant growth for Signal Iduna, reflecting remarkable performance and affirming our constant efforts to provide quality services to Romanians. These exceptional results would not have been possible without the trust and support of our customers and partners, as well as the professionalism and dedication of our entire team. Moreover, 2023 held special significance for Signal Iduna, commemorating both 15 years of success in the Romanian market and our repositioning as an insurer offering comprehensive solutions to protect policyholders against unforeseen events. We will continue to develop our activity, to always be connected to the needs and demands of Romanians, as well as to the socio-economic and technological context, in order to offer updated and efficient solutions and services," says Tiberiu Maier, President of Signal Iduna Asigurare Reasigurare Management Board and President of the Board of Directors of Signal Iduna Asigurari.
With the continuous evolution of the insurance market, there is a noticeable acceleration in demand for insurance tailored to the individual needs and expectations of customers. This significant increase in requests for personalized insurance is a direct result of the complex changes in the lifestyle of Romanians, the dynamics of the business environment, and how individuals perceive and manage associated risks.
