Former Romanian prime minister and head of the junior ruling party (Liberal Party PNL) Florin Citu expressed skepticism about the Government's intention to set up a new state insurance company. In this case, the other one (EximAsig) must be closed down, he added, News.ro reported.

Eximasig, controlled by Eximbank, focuses on companies - particularly those involved in foreign trade.

Authorities have circulated the idea of helping state-owned CEC Bank launch an insurance arm.

Designed by the Financial Supervisory Authority (ASF) together with CEC Bank, adopted and developed by the bank and promoted to all levels of Authority after the new leadership came into office in the summer of 2020, the project is now at the Ministry of Public Finance (MFP).

Cristian Roşu, ASF vice president for insurance, confirmed in an online conference quoted by Ziarul Financiar, that the authority would "make every effort" to launch such a company.

(Photo: Gov.ro)

andrei@romania-insider.com