“At the end of November, approximately 180 brokers, accounting for 90% of the market, were meeting minimum capital requirements,” ASF said in a statement.
Last week, ASF representatives met with the representatives of the national association of Romanian insurers UNSAR for talks related to the evolution of the insurance market, including the current activity of brokers and the regulation of brokerage.
During the meeting, they also evaluated the effects of certain market consolidation measures, such as the introduction of the new share capital requirements.
As of April, insurance brokers should have a minimum subscribed and paid-up capital of RON150,000 to get the operating permit.
In June, 601 insurance brokers had operating permits. In the first six months of the year, underwritings brokered by insurance brokers, totaling RON2.5 billion, accounted for 58.05% of the gross premiums underwritten by insurers.