The Romanian Financial Supervision Authority announces reorganisation of an insurance company

On 19 May 2014, the Romanian Financial Supervision Authority announced that it has issued Decision No. 183/16.05.2014 on the commencement of a financial recovery procedure for the Carpatica Asig S.A insurance company. The Board of Directors of the company is obliged to draft and submit to the supervision authority such a financial recovery plan as ordered in this decision, in 20 days.

The Romanian Financial Supervision Authority has announced the decision on the basis of the Directive on the reorganization and winding up of insurance undertakings.

This public notice by the Finnish Financial Supervisory Authority is based on section 15a of the Act on Foreign Insurance Companies (398/1995), as amended by Act 525/2008.