The potential creditors of Astra insurance undertaking may request payment of due compensation from the FGA until 28th of July 2016

Bucharest, 19th of July 2016 – The Policyholders Guarantee Fund (FGA) recommends the potential insurance creditors of Astra insurance undertaking – in bankruptcy, to submit to the Fund their payment requests, in order to benefit from the due compensation (Annex no. 6 published on the website).

Pursuant of art. 14 para. (1) of Law no. 213/2015 on Policyholders Guarantee Fund, any person claiming any right of claim against Astra insurance undertaking may file a reasoned payment request with the Fund within 90 days after the decision to initiate the bankruptcy proceedings remains final and binding or after the date the right of claim has arisen, when it has arisen subsequently.

For the case of Astra insurance undertaking, the 90-days term provided by the abovementioned legal disposition shall end on 28th of July 2016. Evidently, the legal disposition also provides for the situation when the insurance creditor’s right of claim has arisen subsequently to the date when the decision to initiate the bankruptcy proceedings has remained final and binding, respectively subsequent to the date of 28th of April 2016. In this case, the 90-days term shall be calculated/be applied from the date the claim right was born, respectively from the date of the occurrence of the insured event.

Until 18th of July 2016, FGA has registered 45.847 payment requests, for both the 57.210 claim files taken over from Astra insurance undertaking and for the claim files newly opened by the Fund.

We remind potential insurance creditors of Astra insurance undertaking that, pursuant to art. 266 para. (2) of Law no. 85/2014, FGA is entitled to effect payments from its available assets only to insurance creditors who submitted payment requests, and whose claim files are complete. The payment shall be effected within the guarantee threshold of 450.000 lei per each insurance creditor of the insurance undertaking in bankruptcy.


About FGA

The Policyholders Guarantee Fund was established as a legal person of public law in compliance with Law no. 213/2015 on 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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