Financial Supervisory Authority

Prosecutors with the General Prosecutor's Office on Thursday morning were seizing documents from the City Insurance company's headquarters, as part of a criminal case opened following a complaint filed by the Financial Supervisory Authority (ASF). The representatives of the General Prosecutor's Office claimed that there were no searches, but documents were seized from the insurance company.

The climate change agenda has a high stake for the Romanian economy and financial system, both in terms of opportunities and costs, should the green transition be delayed, the governor of the National Bank of Romania (BNR), Mugur Isarescu, said on Tuesday at the press conference for the presentation of the Report of the National Committee for Macroprudential Supervision (CNSM).

The Financial Supervisory Authority (ASF) has increased the reference tariff of Civil Auto Liability insurance (RCA), despite the number of auto accidents going down, reads a press release sent on Wednesday by the Confederation of Operators and Authorized Transporters of Romania (COTAR). "COTAR expresses its concern regarding the increase in the RCA reference tariff, published by ASF.

Romanian insurers' gross written premiums amounted to approximately 11.5 billion lei in 2020, roughly 4.6 percent up from the previous year, the Financial Supervisory Authority (ASF) announced on Thursday.

The Romanian insurance market had a weight of 2.3% of the Gross Domestic Product (GDP) in 2020, and the first gross premiums have gone up to 11.5 billion RON, rising by 5% from 2019, announced on Thursday, during a specialty conference, Nicu Marcu, the chairman of the the Financial Supervisory Authority (ASF).

As of November 27, 2020 optional pension funds held assets worth over 2.8 bln lei, up 15.26 percent YoY, the Financial Supervisory Authority (ASF) announced. Government securities account for the highest share of this amount, with 1.825 bln lei (64.10 pct), followed by stocks with 712.819 mln lei (25.03 pct) and units in collective investment undertakings with 93.556 mln lei (3.29 pct).

Assets of mandatory privately managed pension funds amounted to over 73.145 billion lei as of November 27, 2020, up 20 percent YoY, shows data of the Financial Supervisory Authority (ASF). Government securities account for the largest share in assets with 49.73 billion lei (68 pct), followed by stocks with 15.158 billion lei (20.72 pct) and corporate bonds with 2.98 billion lei (4.07 pct).

Assets held by the optional pension system stood at 2.47-plus billion lei as of November 30, 2019, up 21.32 percent from the same period of the year before, shows data of the Financial Supervisory Authority (ASF).

The optional pension plans had assets worth over 2.43 billion lei, as of October 31, 2019, up 21.7% from the same period of 2018, according to the Financial Supervisory Authority (ASF). Government securities held the highest share in the assets, of 1.373 billion lei, which is 56.4%. Second came stocks, at 600.509 million lei (24.67%).

The insurance market has recorded a solid growth this year, overall and by segments, with insurance companies' solvency and liquidity levels being more or less the same as those recorded in 2018, according to the head of the Financial Supervisory Authority (ASF), Leonardo Badea.