According to a CSA order published in the Official Gazette, the article was changed stating just that a stockholder/group of stockholders could not own more than 15% of PAID share capital.
PAID was set up in September 2009. The insurer’s largest stockholders are Astra, Groupama and Platinum, with a 15% stake each. Generali Romania owns 11%, while ABC Asigurari, Carpatica Asig, Certasig, City Insurance, Credit Europe Asigurari, Euroins, Grawe Romania and UNIQA Romania own 5.5% of the shares each.
In 2012, PAID portfolio decreased 52%, to 276,600 policies, after a 56% growth in 2011, to 574,230.