Romania’s Financial Supervisory Authority (ASF) said Euroins will go under the temporary administration of FGA, for a limited period of time, until the appointment of a new Board of Directors, which is pending endorsement, according to ASF data.
“Under the legal provisions, Policyholders Guarantee Fund has been appointed temporary administrator at Euroins, for a limited period of time, until the appointment of a new Board of Directors, which is pending endorsement. FGA will be tasked with supervising the company’s current procedures and operations, during this interval,” ASF said in a statement.