Банкеръ Weekly

Briefs

JUPITER UNDERTOOK A STAFF INVASION

This week insurance circles were agitated by staff news. Ivaylo Ivanov, Manager of Orel Insurance, switched to the competitors at Jupiter as Director of Sales and Regional Structures. He started at the new position on May 16, 2001. Ten days earlier Ivaylo Ivanov was awarded the Manager of 2000 prize by Orel -G Holding owners. On May 7, 2001 Ivanov placed his resignation notice. After a week of disputes with Orel owners, he left the company.
Ivaylo Ivanov won Dobromir Goushterov's respect after 1999, after considerably improving the financial results of the life insurance company. Thanks to his professional qualities as a manager the company considerably increased its premium revenue, stirring the professional jealousy of his colleagues at other companies. In January he was appointed Executive Manager of Orel General Insurance. He was expected, after having transformed Orel Life, to do the same with the financial holding's other insurance company. So he undertook the role of an operational manager of the general insurance company and member of both insurance companies Boards of Directors.
Yet, at Orel clean-up in March, 2001, Ivanov's status was reduced to Director of the Regional Structures. That might be the fact which provoked his discontent and urged him seeking further development in a different company.
Jupiter launched its offensive search of high quality professionals still in April, by attracting Tatyana Chonkova, former insurance supervision executive. After being dismissed as Director of insurance supervision in the end of March, Jupiter appointed her as Director of corporate relations and new products. According to some sources Jupiter managers have selected some other insurance supervision experts as well, and has already taken the necessary steps in attracting them.
Other experts may also leave Orel Insurance - Jupiter has been monitoring some of its employees. We have not yet fully formed our team, said Assya Aksentieva, Jupiter Executive Director, to the Banker weekly. Our company has always been opened for good experts, and we are ready to offer them a position if they are interested. We hope to attract a few more well established experts within one month.

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