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Romania: Regulator to open financial recovery procedure for insurer Carpatica Asig


The Romanian Financial Supervision Authority is to open the financial recovery procedure for Romanian insurer S.C. Carpatica Asig S.A. to address its financial situation, Romania-Insider reported.

The insurer has to prepare and submit a financial recovery plan within 20 days of receiving the financial regulator's decision.

Meanwhile, data from the financial regulator revealed that the Romanian insurance market's gross premiums amounted to €1.87 billion ($2.56 billion) in 2013.

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