Grawe Carat Asigurări SA

About the Company

The Austrian insurance group GRAWE has expanded to the insurance market of Moldova via establishment of a subsidiary – “Grawe Asigurare de Viaţă” SA - which started operating in April 2004.

The business line of the newly established subsidiary was initially only life insurance, i.e. its focus was on the area where the international group GRAWE is a highly competent expert. The company was continuously expanding its product range by adding new life insurance schemes.

The good 2006 performance backed the optimistic future prospects and became a strong driver for the decision of GRAWE Group to acquire a major Moldovan insurance market player -“Donaris Asigurare de Viaţă” - complete with its goodwill.

The continuous steady development rates and the expansion of Grawe at the local market has soon resulted in the need to invest in a new office building. That need drove the company to acquire in 2006 an office building in the downtown Chisinau which is an architectural monument of municipal importance.

The performance and development rates of “Grawe Asigurare de Viaţă” S.A. have given us sufficient grounds to look in the future with optimism: they became a driver for Grawe Group to acquire the local insurance company “Carat” S.A. As result of this acquisition, “Grawe Asigurare de Viaţă” S.A. merged with “CARAT” S.A. in a friendly takeover on February 5, 2009, and since then it has been operating at the insurance market as “GRAWE CARAT Asigurări” S.A.

Prior to the above merger each of the two merged companies had enjoyed a stable position at the local insurance market. The 2008 performance speaks for itself: “GRAWE Asigurare de Viaţă” ranked no. 6 in the Top-10 of the local insurers by the total collected insurance premiums. Another indicator of similar importance is the total size of its provisions and insurance funds: “GRAWE Asigurare de Viaţă” ranked no. 3 among the market leaders according to this indicator. “Carat” has also demonstrated good performance and ranked no. 4 in the Top-10 by the total collected insurance premiums and no. 5 at the market according to the total provisions and insurance funds.

The acquisition of “Carat” SA, one of the insurance market leaders, was also driven by the desire to expand the range of the insurance products offered by “Grawe Asigurare de Viaţă” S.A. The newly established company offers a comprehensive range of life as well as non-life/general insurance products.

It is our desire that the united expertise and skills of the two merged companies as well as the proven skills and professionalism of the new merged team become manifested through the expanded range of the insurance products as well as improved client service and liaison.

The principal business objective of “GRAWE CARAT Asigurări” S.A. in the new context is to maintain the tradition of quality and the high professional standards of the two merged companies achieved during their life at the market and to promote the high standards of GRAWE Group in all local subsidiaries. To be customer-driven is the key principle of the Group which has been observed throughout 180 years of the Group’s existence.

Thus the life and non-life insurance products offered by “GRAWE CARAT Asigurări” S.A. comply with the local requirements and are intended to satisfy the local needs identified with account of the current economic and financial situation and living standards, social stratification and preferences of the Moldovan clients.

We assure our clients that the progressing development of our products, investment levels and quality standards will be a proof of our stability and reliability as a business partner. We promise to be true to our motto which reflects the doubtless value of our client base for Grawe Group as a whole and certainly for its local subsidiary “GRAWE CARAT Asigurări” S.A.:

“The Insurance is on your Side”