Press Release – 4th of May 2016

FGA commenced payments for insurance creditors of Astra Asigurări

Bucharest, 4th of May 2016 – The Policyholders Guarantee Fund (Fondul de garantare a asiguraților – FGA) effected the first payments to insurance creditors of Astra Asigurări – in bankruptcy. Until 3rd of May 2016, FGA paid 1.256.000 LEI for 248 claim files. The payments will continue in the following period, for all claim files approved for payment by the Special Commission within the FGA. Until 25th of April 2016, the Special Commission endorsed 4195 claim files, out of which 24 claim files were rejected from payment. The total sum approved for payment for the other 4171 claim files amounts to 16.117.482,77 lei. The payments shall be effected according to the choice of each insurance creditor: in a bank account by way of transfer, by postal order, or cash in any agency of Raiffeisen Bank.
Statistics can be found here: ……….
As a reminder for potential insurance creditors of Astra Asigurări: in compliance with art. 266 para. (2) of Law no. 85/2014, FGA is entitled to make payments from its available assets only to insurance creditors that submitted payment requests and whose claim files are complete. The payment of compensation shall be done within a guarantee threshold of 450.000 LEI for each insurance creditor of the bankrupt insurer.
The Court’s Decision from 28th of April 2016 does not affect the activity of receiving and handling Payment requests (Annex no. 6) from potential insurance creditors of Astra Asigurări. This activity, pursuant to the legislation, shall be carried out for 90 days from the date the decision to open the bankruptcy proceedings remained final and binding, or from the date the right of claim was born, when it was born subsequently.

About FGA
The Policyholders Guarantee Fund was established as a legal person of public law in compliance with Law no. 213/2015 regarding the Policyholders Guarantee Fund.
The Fund is an insurance guarantee scheme and has the purpose of protecting insurance creditors against the consequences of an insurer’s insolvency.

For further details,
Communication Department

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