Banks-Insurance
Leu Loses Ground Vs Euro, Exchange Rate At 4.4939
The Romanian leu lost ground against the euro in mid-trade Monday and the central bank set the exchange rate at 4.4939 units, about 0.2% weaker on the day.
Omniasig Outruns Astra For 1st On Romania's Insurance Market
Romanian insurer Omniasig, former BCR Asigurari, posted underwritten premiums of 548.9 million lei (EUR112.5 million) in the first half of 2012, down 17.4% on the year, ranking first on the...
OTP Bank Romania Switches To Losses In First Half
OTP Bank Romania, the local unit of Hungary’s financial group OTP, has switched to a loss of 242 million Hungarian forints (EUR869,000) in the first half of 2012, versus profit of HUF1.47 bi...
Romania Reduces Red Tape In Setting Up Insurance Companies
Romania’s insurance regulator CSA on Friday said the procedures required to set up and run an insurance company were simplified in a move to align to the European legislation on the authoriz...
Finance Ministry Proposes Making VAT Due On Invoice Payment For Small Firms
Romanian companies with sales lower than 2.25 million lei (EUR500,840) will pay VAT when cashing their invoices starting next year, while larger businesses will be unable to deduct VAT from...
Leu Closes Higher Vs Euro In Quiet Market
Romania’s leu returned to gains versus the euro in late trade Thursday and closed 0.4% stronger on the day, amid low volumes.
Insurance Regulator Posts Loss Of RON19M In 2011
Romania's insurance market regulator CSA posted losses of 18.9 million lei (EUR4.2 million) in 2011, compared with profit of RON5.2 million in 2010, according to its yearly report.
CSA: Euroins, Carpatica Asig And Astra Cumulate 60% of 2011 Complaints
Romania’s insurance regulator CSA received a total of 7,570 complaints in 2011 against services provided by insurers and brokers, down 0.15% on the year, most of them targeting the auto indu...
Romanian Insurance Staff Shrunk 19.7% In 2011, To Nearly 15,300
Insurance and brokerage companies in Romania reported nearly 15,300 employees at the end of 2011, down 19.7% from 2010, according to data provided by the country’s insurance regulator CSA.