The Financial Supervisory Authority (ASF) sanctioned Euroins Romania Insurance - Reinsurance, after a verification that took place during the period of May-October 2021, with a total fine of 5.86 million RON and imposed the company measures to remedy the identified deficiencies.According to the legal provisions, within two months since the decision was received, the Euroins Romania Insurance - Reinsurance will send to ASF for approval a plan for recovery, with measures for reestablishing the level of own eligible funds that cover the required solvency capital (SCR) or for modifying the risk profile so that within 6 months the SCR will be respected again.ASF is the national authority, established in 2013 through Emergency Ordinance 93/2012, approved through Law 113/2013, for regulating and monitoring the insurance markets, private pensions, as well as the capital market. ASF contributes to the strengthening of the integrated framework of functioning of the three sectors, that sum up over 10 million participants.
The Romanian Ministry of Foreign Affairs (MAE) announced on May 1 that, following the efforts of the Interinstitutional Crisis Cell through the Romanian Embassy in Cairo and the Romanian Representative Office in Ramallah, nine Romanian citizens and their family members were evacuated from Gaza Strip and reached the territory of Egypt through the Rafah border […]
Over the past three months, dozens of members and heads of regional organizations or even party candidates have left the far-right party AUR, accusing its authoritarian leadership, G4media.ro reported. Other...
Clotilde Armand, the candidate of the United Right Alliance (ADU) for the mayor seat in Bucharest’s District 1 and the district’s incumbent mayor, is rated at 37.3% of the votes, according to an IPSOS survey carried out for Clotilde Armand. Armand is followed by the candidate of the ruling coalition formed by Social Democrats and […]
The law that regulates investment in offshore wind energy projects will enter into force on May 30, after the bill was promulgated by the president of Romania, Klaus Iohannis, the Ministry of Energy announced on April 30. However, the key details, including the royalties, will be set and approved by the government by mid-2025. “Romania […]
Hidroelectrica (BVB: H2O) is close to resuming works and completing the Bumbesti-Livezeni hydropower complex after the government waived this year (again) the environmental impact study for the project by declaring it as a project of national interest and public utility, according to
The combined area of the buildings with a permit issued in the first quarter (Q1) of 2024 was 2.47 million sqm, 19.3% less compared to the same period of 2023 and 23.5% down compared to the first quarter of 2019, the statistics office INS announced. Out of this, 1.77 million sqm (-19.5% y/y) is in […]
