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The Initiation of the Exercise of Assessment of Assets and Liabilities for the insurance sector in Romania, in the second half of 2020

Bucharest, July 2, 2020 – The Financial Supervisory Authority in Romania (ASF) and the European Insurance and Occupational Pensions Authority (EIOPA) announce the initiation of the exercise of assessment of the assets and liabilities for the insurance sector in Romania, in the second Semester of 2020.  The exercise has been previously postponed (details HERE), considering the special circumstances generated by COVID-19 pandemic. The new reference date for the assets and liabilities audited is of June 30, 2020 and the exercise shall be launched in the second Half of 2020.  The governance of the exercise, the monitoring measures and use of independent consultants/auditors will remain unchanged; further will be applied the necessary adjustments regarding the exercise calendar. 

The independent evaluation of the assets and liabilities remains a priority for increasing the transparency with regards to the solvability and financial position of the insurance companies in Romania. 

 

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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.