In June 2016, International Insurance Consortium (IIC Group), headquartered in Amsterdam, announced it withdrew from the process of fully acquiring the shares of Carpatica Asig, arguing it was denied access to important and relevant information regarding the insurer’s situation.
Carpatica Asig was placed under a financial recovery plan in 2014. The company has initially failed to attract an investor in its shareholding structure by the deadline stipulated by ASF which decided to apply resolution measures at the beginning of 2016.
The financial situation of Carpatica Asig, controlled by businessman Ilie Carabulea, worsened after its owner and former general manager were placed under preventive arrest for corruption in January 2014.