The authority suspended the prerogatives of the company’s shareholders and management and appointed KPMG as special administrator.
Astra is suspected of having underestimated its due damage claims and lowering its minimum required reserves by 40%, or RON100 million. The Romanian central bank notified the anticorruption department of the situation.
KPMG will have to urgently start legal procedure to raise the insurer’s capital for the observance of solvency rules.