Financial markets regulator ASF fined the biggest insurer Euroins, and asked it to draw a recovery plan, based on the findings of an inspection carried out in May-October, 2021, Ziarul Financiar reported.

In total, the company should pay RON 5.86 mln (nearly EUR 1.2 mln). The company claims that the “financial challenges” identified by ASF were already addressed starting with the end of 2020.

“As a result, in the last 12 months, the company has benefited from a series of capital injections totalling over RON 300 mln (EUR 60 mln), capital infusions that addressed all financial challenges, including those past financial challenges identified by the ASF,” the insurer says in a press release following the market regulator’s decision.

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andrei@romania-insider.com