Posta Romana seeks insolvency of its insurance broker

Posta Romana seeks insolvency of its insurance broker

Romania’s state-owned postal operator Posta Romana has filed court action for insolvency procedures targeting PRBA, its own insurance broker set up in 2014.

The broker has registered losses of RON 4 million in the last five years and receivables of RON 2 million. The company’s representatives made this decision as a result of analysing the legal debt recovery options that PRBA had to register with the company.

In October 2014, the Romanian Post launched its own insurance broker, to implement innovative insurance products as quickly as possible, targeting the traditional customer segment of the national postal operator. Starting May 2015, the Romanian Post offered the possibility to conclude insurance policies in post offices in several cities in the country, aiming at 300 work points across the country.

PRBA’s activity was based on the contribution of authorised postal agents as brokers and number of fixed points in the national post office network. However, the insurance operator recorded debts to the Romanian Post and the attempts to recover failed to fit the PRBA on a positive trend of financial evolution. Thus, as a creditor, the Romanian Post filed a claim in court asking for the insolvency of the insurance brokerage firm.

Mircea Tudosie, general manager of the Romanian Post Office said: “Even if the broker insurance development project did not reach the targets we would have desired from an economic point of view, the Romanian Post will seek in the near future to identify  the right solutions to make our presence felt on the insurance intermediation market. We have traded power in the form of the human factor, basically the most important element in the development on this market segment.”

Relevant Directory Listings

Listing image

INFORM GmbH

Agile Yard Management with SyncroTESS INFORM’s Agile Yard Management software, SyncroTESS, optimizes the handling of load units in post and parcel centers. Through the synchronized interaction between gate, yard, and logistics center, SyncroTESS enables an efficient, transparent and optimized yard management providing: Reduced gate times […]

Find out more

Other Directory Listings

Leave a comment

Your email address will not be published. Required fields are marked *

News Archive

Advertisement

MER Magazine


The Mail & Express Review (MER) Magazine is our quarterly print publication. Packed with original content and thought-provoking features, MER is a a must-read for those who want the inside track on the industry.

 

P&P Poll

Loading

Have letter volumes plateaued in the UK or will they continue to see a decline?

Thank you for voting
You have already voted on this poll!
Please select an option!



Pin It on Pinterest

Share This