Insurer Certasig goes bankrupt

Romanian small-sized insurer CertAsig went bankrupt at the request of the Financial Supervisory Authority (ASF). Its market share was under 1% in 2018. The authority filed the request as the company did not restore the level of eligible equity covering the minimum capital requirement (MCR) within the deadline provisioned by law. CertAsig needed a capital infusion of between EUR 5.5-6 million, of which about EUR 2 million to meet the minimum capital ...

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