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Watford Re's European insurance unit to expand in Romania

Gibraltar-based Watford Insurance Co. Europe Ltd. is planning to launch a retail insurance branch in Romania as part of its efforts to expand in Europe, Media XPRIMM reported Dec. 7.

Starting off with motor third-party liability risks, the branch will eventually cover property risks and other retail products, the news outlet said. The Watford Re Ltd. unit is cooperating with INTARO Insurance Services SA to establish the new operations, which are pending approval from Gibraltar Financial Services Commission and Romanian authorities.