Bucharest, 8 September 2021 - The Financial Supervisory Authority has been informed by the Insurance Guarantee Fund (FGA), as temporary manager of City Insurance S.A., that until 6 September 2021, 24:00, no payment has been made into the company's accounts for the value of the shares subscribed by the minority shareholder i3CP HOLDING BV, thus the requirements for restoring, within three months, the level of eligible basic own funds covering the minimum capital requirement (MCR), according to FSA Decision no. 714/03.06.2021, are not met.
The Board of the Financial Supervisory Authority will analyse the factual situation and take the necessary decisions, in accordance with the legal provisions.
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