KPMG submitted the preliminary creditors’ list of the bankrupt insurer Astra Asigurari to the Bucharest Court yesterday. The consultancy firm is the insurer’s liquidator.

Some 1,223 creditors have claimed that Astra Asigurari should pay them RON 4.59 billion (EUR 1 billion) worth of debts. KPMG admitted claims totalling RON 4.11 billion (EUR 924 million).

Romanian lender Raiffeisen Bank has the biggest approved claim over Astra Asigurari, of over RON 2.3 billion (EUR 519 million). It represents an insurance claim and Astra will only have to pay this sum to Raiffeisen if the insured risk occurs.

The Insurance Guarantee Fund comes next, with an admitted claim of EUR 158.4 million, followed by another lender, BCR, with EUR 34.5 million. The National Highways Company is also among the creditors, with EUR 30.2 million.

The Financial Supervisory Authority has asked the court to change the insurer’s liquidator.

editor@romania-insider.com