Five investors interested in insolvent Romanian insurer

Up to five investors are interested in taking over the insolvent insurer Astra Asigurari. None of them is active on the Romanian market, said Misu Negritoiu, president of the Financial Supervisory Authority. However, the situation stalls due to a “price issue”. The company needs an urgent boost of almost EUR 100 million, but the necessary amount to buy Astra Asigurari amounts to EUR 317 million. “The effort is substantial, that’s why it’s still uncertain whether the acquisition will take place,” said Negritoiu, cited by local Wall-street.ro. Astra Asigurari has been under financial administration for almost a year. Its fate is still unclear, as the company’s liquidity ratio approaches zero. editor@romania-insider.com