Gavril Muresan, the number two at Allianz-Tiriac - the leader of the Romanian insurance market, stepped down from the company at the end of July. Muresan, 71, is one of the individuals who helped develop the insurance firm from scratch, together with Cristian Constantinescu, 57, general manager of Allianz-Tiriac, and Ileana Cucos, 51, a deputy general manager, in charge of life insurance activities.
"I have retired because I've reached a certain age, I am not leaving for another company," Gavril Muresan told ZIARUL FINANCIAR.
Gavril Muresan holds an around 0.3 percentage stake in the company's stock, which is worth approximately 0.7 million euros, according to ZF estimates. Muresan says he does not intend to sell his stake in the company.
"Nobody has been appointed, as yet, to replace Gavril Muresan, and he will probably still work for the company as an adviser," explains Marius Onofrei, a communications manager with the insurance company.
Gavril Muresan had filled the position of deputy general manager at Allianz-Tiriac, in charge of general insurance, since 1994, when the company was founded.
With three million dollars from businessman Ion Tiriac, Gavril Muresan, Cristian Constantinescu and Ileana Cucos set up Asigurari Ion Tiriac, which was set to become, a decade later, the biggest insurance firm in Romania. In 2000, Germany's Allianz bought 51 percent of the company's stock and thus created Allianz-Tiriac Asigurari. This year, the company's turnover is expected to exceed 350 million euros.
Muresan is one of the Romanian insurance market's pioneers. From 1967 until 1983, he worked with ADAS (Administration of State Insurance), after which he took a management position with an underwriting agency in London, and then returned to ADAS until 1990. In 1991 he became property insurance manager and a member of the Supervisory Board o
