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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romanian market regulator shuts down small-sized insurer

Romania's financial market regulator ASF slapped a RON 50,000 (EUR 10,000) fine on the small-sized Romanian insurer Asimed, lifted its license, and asked its bankruptcy for 40 regulation breaches.

Among others, the firm has had no valid management team since April 2017 and failed to meet the capital requirements at the end of 2018 and 2019, Profit.ro reported.

The company's revenues reached RON 723,395 (EUR 155,000) in 2019, from RON 798,813 in 2018. Its net profit amounted to RON 646,663 (EUR 138,000), from a RON 143,166 loss in 2018.

General insurer Asimed started its activity in 2004. Local businessman Laurentiu Huica owns 80.5% of its shares, while several local drug stores own the remaining 19.5%.

"Our company is constantly growing and constantly aims to meet the needs of the Romanian insurance market. Our goal is to become the first choice of Romanian clients in terms of insurance and gaining the status of leader," the company's website reads.

andrei@romania-insider.com

(Photo source: Shutterstock)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romanian market regulator shuts down small-sized insurer

Romania's financial market regulator ASF slapped a RON 50,000 (EUR 10,000) fine on the small-sized Romanian insurer Asimed, lifted its license, and asked its bankruptcy for 40 regulation breaches.

Among others, the firm has had no valid management team since April 2017 and failed to meet the capital requirements at the end of 2018 and 2019, Profit.ro reported.

The company's revenues reached RON 723,395 (EUR 155,000) in 2019, from RON 798,813 in 2018. Its net profit amounted to RON 646,663 (EUR 138,000), from a RON 143,166 loss in 2018.

General insurer Asimed started its activity in 2004. Local businessman Laurentiu Huica owns 80.5% of its shares, while several local drug stores own the remaining 19.5%.

"Our company is constantly growing and constantly aims to meet the needs of the Romanian insurance market. Our goal is to become the first choice of Romanian clients in terms of insurance and gaining the status of leader," the company's website reads.

andrei@romania-insider.com

(Photo source: Shutterstock)

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