The capital inflow was proposed by special administrator KPMG Advisory and approved by Romania’s financial watchdog AFS.
Astra is indirectly owned by Adamescu through Nova Group Investments Romania, which owns 72.68% in the insurance company, and Epsilon Estate Provider SRL, which owns 27.02%.
The company currently has a share capital of RON192.7 million.
Also Monday, Astra shareholders appointed Deloitte Audit SRL as the insurer’s new auditor.
Astra was placed under special administration following suspicions that it had purposefully underestimated damage claims and constituted reserves 40% lower than needed.
ASF said in a report there is high risk the company would go insolvent in case of a natural disaster, as it is the largest home insurer in the country, with 2.15 million contracts, and requires additional capital of EUR278.4 million.
Astra is the leading Romanian insurer, with underwritings of over RON1 billion in 2012 and more than four million clients.
The Romanian insurance market exceeded RON8 billion in 2013.