Romanian supervisor announces the bankruptcy of ASTRA Asigurari

26 August 2015 — Mihai CRACEA
The Financial Supervisory Authority announced the bankruptcy of ASTRA Asigurari, the third largest insurer in Romania, after a year and a half of special administration

The Romanian Insurance Guarantee fund will take over the claims obligations of ASTRA Asigurari within 30 days after this announcement.

Starting from February 2014, the FSA named KPMG Advisory as special administrator of ASTRA Asigurari after discovering that the solvency and liquidity indicators of the insurer where not meeting the legal requirements.

ASTRA needed a EUR 100 million capital increase but the shareholders were unable to provide the funds nor was another investor found.

Stay tuned for further details.

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