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Tag Archives: City Insurance

A US-based large company to enter the Romanian RCA market

The domestic compulsory motor insurance policies (RCA) market is becoming more and more attractive for important players. ”We will probably have, by mid-year, yet another big player to enter the Romanian market. It is a player coming from the United ...

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City Insurance appoints new Board of Directors

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

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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City Insurance is financially stable; the claims paid in H1 doubled

Recently emerged from financial recovery procedure, City Insurance officials assure that the company is financially stable. According to a press release, during the entire recovery period, April 2016 to July 2017, Societatea de Asigurare – Reasiguare City Insurance has fulfilled ...

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81 pc of the RCA damage files were settled within the legal deadline. Allianz Tiriac, the best payer

During July-December 2016, the insurance companies approved 119,623 claims files for RCA motor insurance policies, Financial Supervisory Authority (ASF) data show. The analysis shows that the average duration for the settlement of RCA claim files approved for material damage in ...

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City Insurance accuses ASF management of ignoring legal provisions

City Insurance has responded Thursday to the Financial Supervisory Authority (ASF) decisions on applying the dispositions of Law no. 246/2015 on the redressing and resolution of company’s insurers. City Insurance accuses ASF management of ignoring the laws after when on ...

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Swiss investor to take over City Insurance

President of the Financial Supervisory Authority (ASF), Misu Negritoiu, met recently Max Roessler, Swiss private investor, on the occasion of his visit to Romania, to complete negotiations for taking over the Insurance-Reinsurance Company City Insurance. The meeting was also attended ...

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Only 55 pc of MTPL claim files are paid within the 10 day- statutory period

54.70 percent of the MTPL claim files in the first half of 2016, namely 45,643, were paid within the 10 day- term, the legal deadline, the Financial Supervisory Authority (ASF) analysis reads, quoted by a press release. Thus, during January ...

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