Interamerican Becomes Eureko

Bucharest, February 4th, 2009 – Interamerican Romania - part of the Eureko Group since 2001 – officially re-brands to its parent company name, EUREKO at the beginning of February. The re-branding process is part of a broader strategy to consolidate the company’s strong position on the Romanian insurance and pensions market.

Eureko today has more than *350,000 clients in Romania, with active policies in Insurance or Pensions Pillar II.

Following the success achieved in II Pillar Pensions, and the significant growth achieved in its Health business, Eureko announced its plans for further expansion in Romania in 2009,  and beyond.

Eureko will focus on selected target segments, namely Pensions, Health and Life Insurance. This will be achieved in several steps:

In Pensions – in 2008 the group already announced its entrance to the III Pillar voluntary private pensions market with the launch of EUREKO CONFORT - a medium-risk fund. This will be followed by the second fund, EUREKO ACTIV - a high-risk fund, later in the year.

New Life Insurance products will be launched during the year, starting with a new Unit-Linked product, with an option to choose a guaranteed fund for more cautious investors, in February 2009.

Eureko will stop underwriting some lines of Non-Life business from 1st May 2009, namely Property, Motor, Liability and Cargo – to concentrate its efforts on core business lines.

During 2009 Eureko’s will also invest in expanding its Proprietary Health Services under the Euroclinic brand, both the number of facilities and also the range of treatments offered will grow significantly.
A lease agreement for a New Headquarter building has been signed – Eureko will move into these new premises in the 3rd Quarter 2009. The lease has been signed with a minimum term of six and a half years, running unto 2016.
Several other business development projects are underway and these will be announced throughout the year as they become finalized.

“2009 will be a challenging year for all business in Romania; we are delighted that we are supported by a shareholder who is willing to invest in its long term future in Romania. For Eureko, in Romania, this is a challenging, but also an exciting year with so many developments and initiatives in place”

Frans van der Ent
Country Manager Eureko