Romania’s Financial Surveillance Authority ASF approved in early-September the financial recovery plan of insurer Carpatica Asig.

Some of the measures proposed by the company target regaining operational profitability by balancing the insurance portfolio, reducing acquisition and administration costs; attracting new financial resources through a new share capital increase via cash contribution, drawing a subordinated loan and attracting a strategic investor, reports local Wall-street.ro.

ASF ordered in May opening the financial recovery procedure based on a recover plan for Carpatica Asig.

Irina Popescu, irina.popescu@romania-insider.com