Insurance - Business Review



ASF Council withdraws operating license of insolvent LIG Insurance

Insurance December 21, 2016 16:12 0 comments

The Council of the Financial Supervision Authority (ASF) has withdrawn the license of operation for LIG Insurance SA Asigurari-Reasigurari Company, as a result of the insolvency stage and the start of the bankruptcy procedure, according…more »


Groupama Asigurari paid claims worth RON 37 mln for farmers in agicultural year 2015-2016

Insurance November 29, 2016 15:51 0 comments

Insurance company Groupama has received in the agricultural year 2015-2016 1,778 claims for agricultural damages, a growth by over 300 percent compared with the previous years. June is the month when most of the most…more »

NN Asigurari

NN registers gains on life insurance premiums in Romania and growing assets on pensions arm on nine months

Insurance November 18, 2016 11:19 0 comments

NN Asigurari closed the first nine months of the year with assets worth RON 14.9 billion in Romania, out of which RON 11 billion on pillar II of mandatory pensions, says the data published on…more »

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Insurers in Romania notify the EC over freezing of RCA insurance prices

Insurance November 03, 2016 15:39 0 comments

Insurance companies from Romania have notified the European Commission through the National Union of Insurance and Reassurance from Romania (UNSAR) following the government's decision to let the Financial Supervision Authority (FSA) enforce mandatory insurance prices…more »

insurance market

ASF: 16 insurers registered combined losses of RON 735 mln in Romania last year

Insurance October 04, 2016 12:01 0 comments

The Romanian insurance market closed last year in the red, as 16 firms registered overall RON 735 million losses, says the data of the Financial Supervision Authority (ASF). The profit of the other 20 insurance…more »

"angela toncescu"

Ex insurance regulator head Angela Toncescu, detained by anti-graft prosecutors

Insurance September 27, 2016 08:51 0 comments

Angela Toncescu, the former head of the Insurance Supervision Committee (CSA) between 2006 and 2011, was detained by anti-graft prosecutors for 24 hours on Monday evening, in a case involving the Romanian bankrupt insurer Carpatica…more »

insurance market

Romanian insurers charged EUR 5.7 bln for RCA and paid damages of EUR 3.7 bln, say transport firms

Auto September 26, 2016 15:54 0 comments

RCA insurers registered subscribed gross premiums worth EUR 5.7 billion and paid damages of EUR 3.7 billion during the 2005-2015 period, registering EUR 2 billion for administrative expenses and profit, according to the road transports…more »

omniasig vig

Omniasig: The biggest damage claims paid for fire cases

Insurance September 22, 2016 14:23 0 comments

Omniasig Vienna Insurance Group (VIG) is the insurance company, which according to the data of Financial Supervision Authority (ASF) from Romania, was ranked in 2015 and in the first quarter of 2016 on the total…more »


Negritoiu: It would be “extremely unproductive” to have a step back and break ASF

Finance September 21, 2016 11:26 0 comments

Breaking the Financial Supervision Authority (ASF) would be extremely unproductive, considering that the rest of Europe has an integrated surveillance system, says the ASF president, Misu Negritoiu. „The European trend is that all the authorities…more »


ASF head Negritoiu, on the reference prices for RCA insurance

Insurance September 16, 2016 11:36 0 comments

The head of the Financial Supervision Authority (ASF), Misu Negritoiu, promises to finalize the reference prices for RCA on categories and vehicles classes insured in a shorter interval than the 30 days requested in the…more »