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Start of the Balance Sheet Review of the Romanian insurance sector in the second half of 2020

Bucharest, July 2, 2020 -  The Financial Supervisory Authority of Romania (ASF) together with the European Insurance and Occupational Pensions Authority (EIOPA), announce the start of the Balance Sheet Review of the Romanian insurance sector in the second semester of 2020. The exercise was previously postponed (details HERE) in view of the special circumstances generated by the COVID-19 pandemic. The new cut-off date for the balance sheet data is 30 June 2020 and the exercise is expected to be launched in the second half of the year 2020. The governance of the exercise, the follow-up measures and the use of independent consultant/auditors will remain unchanged, while necessary adjustments to the timeline will be ensured.

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About ASF

ASF is the national authority set up in 2013 through OUG 93/2012 approved by Law 113/2013, for the regulation and supervision of insurance markets, private pensions and the capital market. ASF contributes to strengthening the integrated operating framework of the three sectors, which amounts over 10 million participants. More information can be found at www.asfromania.ro.