Regulator to assess financial health of Romanian insurance companies

Romania’s Financial Supervisory Authority (ASF) plans to assess the financial health of 26 local insurance companies within a program aimed to find the risks and vulnerabilities in the insurance sector.

The ASF has recently initiated a public tender to acquire the services of a private consultant that will coordinate and advise the independent auditors who will carry out the evaluation process, Hotnews.ro reported.

The value of the contract is estimated at RON 1.4 million (EUR 290,000) without VAT. The consultant will make sure that the auditors use the same methodology and that all insurance companies benefit from the same treatment. It will also compile the final report.

According to the ASF, a similar assessment was carried out in 2014-2015.

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