The deadline for bid submission was May 7.
The benefit for nine of CSA’s 178 employees will be RON860,000 per person (EUR196,700), and RON107,500 (EUR24,600) for the rest. The policy will have a pension component, according to the tender notice.
The insurance contract will be financed from the regulator’s own sources of revenue. In 2010, CSA made a profit of RON5.16 million with RON59.28 million in total revenue. The regulator made a profit of RON16.73 million the previous year. CSA is funded from the contributions paid by insurance companies and intermediaries
Last year, the general and life insurance market fell 4.3% to RON7.95 billion, due to a 6.5% decrease registered on the general insurance segment to RON6.21 billion, according to CSA. Life insurance premiums grew 4.6% from 2010, to RON1.74 billion.
The largest players on this segment are ING Asigurari de Viata, BCR Asigurari de Viata and Alico Asigurari Romania.