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City Insurance appoints new Board of Directors

City Insurance

City Insurance, Romania’s RCA market leader, has announced the appointment of a new Board of Directors. According to a press release, the nominees are: Epameinondas Papanikolaou – President, Renato Szilagyi – Vice-president and Bodo Herold, Member. The nominees are awaiting ...

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Omniasig, Generali and Aon Romania, investigated by the Competition Council on aviation insurance

competition council

The Competition Council (CC) has launched an investigation into the aviation insurance market and has carried out unannounced inspections both at the two major insurance companies on the local market and at the broker Aon Romania, the institution informs. The ...

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Romanian insurance market, up by 8 pc in H1, to RON 5.04 bn

Romanian insurance market

The insurance companies licensed and regulated by the Financial Supervisory Authority (ASF) registered, during the first semester of 2017, a total gross premiums written (GPW) totalling RON 5.04 billion, up by 8 percent as compared with the same period of ...

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ASF: The number of petitions on the insurance market was halved in H1. What have the petitioners complained about?

asf

Overall, the Financial Supervisory Authority (ASF) received in the first half of 2017, 4,698 petitions, decreasing by 48.54 percent compared to the first half of 2016, a press release informs. Out of this total, 84.95 percent are petitions related to ...

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Carmina Dragomir joins Metropolitan Life as the new CEO for Romania

metropolitan life

As of October 1, Carmina Dragomir is the new CEO of Metropolitan Life Romania, a press release informs. She is replacing Emilia Bunea who has been CEO of the local operations since 2014. Carmina Dragomir joins Metropolitan Life in Romania ...

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CertAsig posts 106 pc premium growth in Bulgaria in H1

CertAsig

The Bulgarian branch of Romanian insurance company CertAsig underwrote EUR 1.10 million of gross written premiums in H1 2017 compared to EUR 0.53 million in H1 2016, a significant 106 percent increase, a press release informs. The business was sourced ...

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The income rate of insurance brokers, to be halved

insurance brokers

The Board of Financial Supervisory Authority (ASF) decided during last week’s meeting to reduce the applied rate on income earned by insurance brokers by 50 percent by amending the provisions on the revenue of ASF, as a press release informs. ...

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ASF eliminates, as of October 1, the 1pc quota applied to local intermediaries operating on the capital market, sets factor ‘N’ value

asf

The Board of the Financial Supervisory Authority (ASF) has decided at the meeting on Wednesday to abolish the application of 1% quota on the operating income for local intermediaries – financial investment services companies and credit institutions registered in the ...

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