Negritoiu, ASF’s head: Romanian private pension system is very secure and strong

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One of the main objectives of the Romanian Financial Supervisory Authority (ASF) in 2015 is the reviewing of placements and investment funds policies, very restrictive at the moment, the aim being to mobilize a part of funds from bank deposits, where ‘do not do any money’, to the capital market instruments , said Misu Negritoiu, the president of the institution in an interview for Agerpres.

According to him, the private pension system is very secure and strong, but some guarantee mechanisms are excessive. The ASF’s head said also that 2014 was, for all markets of non-banking financial services, a troubled year of resetting, when capital market has undergone radical changes.

Misu Negritoiu shows that the notifications sent to ASF by insurance companies on the MTPL insurance rates changes for 2015 does not confirm in any way the price increases in the market. „ASF has the option to request further explanations, models that underlie these calculations and even to return to the insurance companies and ask them to replenish them,” Negritoiu said.

Regarding the Astra case, the biggest players in the insurance market the ASF official does not exclude a ’emergency scenario’, but this will be known early next year. He argues that the Guarantee Fund has sufficient resources to compensate policyholders in case of a failure of Astra capitalization.

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