With 246 favorable votes in the assembled chambers of the Romanian Parliament, Daniel TUDOR, approved for this position during the meeting of the Reunited Commissions of Budget and Finance in the Senate and Deputy Chamber held yesterday, was elected President of ISC - the Romanian Insurance Supervisory Commission for the next 5 years.

Out of 427 Parliament members, 275 were present at the assembly, and 248 valid votes were expressed regarding the naming of Daniel TUDOR as President of ISC.

Daniel TUDOR was proposed by The National Liberal Party as President of ISC after the Parliament dismissed the former President Constantin BUZOIANU at the beginning of last week.

At yesterday's hearings during the meeting of the Reunited Commissions of Budget and Finance in the Senate and Deputy Chamber, Daniel TUDOR declared that the main problems of the Romanian insurance market today are the unfair competition and delays in the claims payment.

"I cannot be influenced by any insurer on the market. I have no connections to any of them and they cannot press me financially", Daniel TUDOR declared during the hearings.

He added that he will support the founding of mutual insurance societies which would help domains such as agriculture and education, that he will reduce by half the ISC members' salaries and that his income will be published on the ISC website.

Who is Daniel TUDOR?

Daniel TUDOR, now age 55, founded in 1992 Roumanie Assurance International (RAI), a company specialized in travel insurance. In 2006, during the Insurance Market Awards Gala granted by PRIMM Magazine, the company received the Special Award for Insurance Products for the travel insurance TURIST.

In February 2007, he sold the entire RAI share package to the PPF Group in Czech Republic and he gave up his managing position at RAI Asigurari, choosing a similar position at ARDAF.

Thus, between 2007 and 2009, Daniel TUDOR was President - General Manager of ARDAF Asigurari, company founded in 1992, which he prepared for selling to the financial Czech group PPF Investments.

Daniel TUDOR announced his resignation from ARDAF at the middle of January 2009, the executive management of the company being taken over, starting the 1st of February, by the two Deputy General Managers - Adina BACIOIU and Dan BORDEANU.

In March 2009, SABILE, a holding from Cyprus, member of PPF Investments, bought the major share package of ARDAF.

Later that year, in June, GENERALI PPF Holding announced the acquisition of both ARDAF and RAI, by an agreement signed with PPF Investments, transaction through which it would control 72.7% of ARDAF and 99.9% of RAI.