Moreover, ASF ordered the insurer to implement a set of measures for a period of six months from receiving the decision, whereby ASF will monitor the method used to handle damage claim files for civil liability insurance RCA, as well as the company’s investment policy.
City Insurance was subject to financial recovery procedures in the spring of 2016 and remained under this mechanism until the spring of 2017.
End-2016, City Insurance ranked sixth among general insurance companies, after Euroins, with underwritten gross premiums of RON789.6 million and a market share of 10.2%. RCA insurance policies account for 82% of City’s portfolio, being the growth engine in 2016.