Press Release – www.fgaromania.ro

28 Sep 21

FGA receives payment requests from insurance creditors of City Insurance

Bucharest – September 28 2021 The Policyholders Guarantee Fund took notice of the publication of Financial Supervisory Authority’s Decision no. 1148/17.09.2021 in the Official Journal of Romania, by which the functioning authorization of City Insurance S.A. was withdrawn and the insolvency ascertained. The Financial Supervisory Authority will take steps to request to Courts of law […]

24 Sep 21

Clarification regarding the denouncement procedure for insurance contracts concluded with City Insurance SA

Bucharest – 24 September 2021 Insurance contracts concluded with City Insurance SA remain valid until their expiry, unless one of the following situations: Holder of insurance policy denounces the insurance contract The legal term of 90 days from the date the pronouncement of the Court decision for commencement of winding-up procedures is fulfilled, from which […]

20 Sep 21

FGA can receive requests for opening claim files from potential insurance creditors of City Insurance S.A

Bucharest – September 20 2021 The Policyholders Guarantee Fund (FGA) took notice of the Decision of the Financial Supervisory Authority (ASF), by which the functioning authorization of City Insurance S.A. was withdrawn and the insolvency was ascertained. The Financial Supervisory Authority will submit to the Courts of law the request for commencing the winding-up proceedings […]

07 Jun 21

Clarifications regarding the mandate of the Policyholders Guarantee Fund (PGF/FGA) for the administration of City Insurance S.A

Bucharest – 07 June 2021 By FSA Decision no. 724/2021, FGA was appointed as temporary administrator to City Insurance S.A., for a mandate of 4 months. The role of the FGA is to re-establish the financial situation of the insurer and to ensure a sound and prudent management of the business activity. Any request regarding […]

24 Feb 21

The list of potential insurance creditors of Certasig S.A. – in winding-up, has been published

Bucharest – 24th of February 2021 The Policyholders Guarantee Fund (FGA) has published, pursuant of legal obligations, the List of insurance creditors whose claims resulted from the records submitted by insurer/reinsurer Certasig S.A. – in winding-up. The List was published on website of FGA, at https://www.fgaromania.ro/en/insurance-creditor-list-certasig-sa/ The publishing of the List was done prusuant to […]

21 Jan 21

FGA, payments in excess of 913 million Lei, until December 31 2020

Bucharest – January 21 2021, Policyholders Guarantee Fund (FGA) has effected, last year, payments in excess of 123.000 thousands lei. With this, the total payments effected by the Fund in the last 5 years amounts to 913.000 thousands lei. Payments were effected for 104.681 payment requests endorsed by the Special Commission of the Fund, for […]

18 Jan 21

FGA can initiate payments to insurance creditors of Certasig S.A. – in winding-up

Bucharest – 18 January 2021 The Policyholders Guarantee Fund (FGA) took note that the Court Decision no. 1679/29.06.2020, issued by VII Civil Court of the Tribunal of Bucharest, on the commencement of the winding-up procedure against Certasig – Insurance and Reinsurance Company – S.A has remained final, following the dismissal of the appeal submitted against […]

08 Jan 21

Asimed SA Insolvency, attributions of the Policyholders Guarantee Fund

The Policyholders Guarantee Fund took notice of the Decision of the Financial Supervisory Authority no. 1493/2020, published in the Official Journal of Romania no. 14/07.01.2021. The Decision provides for the sanctioning with fine and withdrawal of functioning authorization of Asimed S.A. insurance company, as well as ascertainment of insolvency. The Financial Supervisory Authority will submit […]

06 Aug 20

Clarification regarding the establishment of material and moral compensation for claim files relating to bodily damages or death, with reference to insurance companies undergoing winding-up procedures

Following the publication in mass-media of a material which challenges the manner of granting compensation in cases of payment requests relating to claim files on bodily damages or death, with reference to insurance companies undergoing winding-up procedures, the FGA makes the following statements: FGA makes use of the “Procedure for the amicable settling of monetary […]

25 Feb 20

FGA stopped receiving physical documents at the headquarter

Following the context due to propagation of Coronavirus Covid-19 in Romania, the management of FGA decided that submission of documents to FGA to be done exclusively through electronic means or through postal services. Thus, personal submission of documents at the headquarter of FGA is no longer accepted. Documents can be submitted through electronic means via […]