EIOPA Announces Timeline for Review of Insurance Sector in Romania
EIOPA, together with the Financial Supervisory Authority of Romania (ASF), is announcing the start of the Balance Sheet Review of the Romanian insurance sector in the second half of 2020. The exercise was earlier postponed in view of the special circumstances arising from the COVID-19 pandemic. The new cut-off date for the balance sheet data is June 30, 2020. The governance of the exercise, the follow-up measures, and the use of independent consultants or auditors will remain unchanged, while necessary adjustments to the timeline will be ensured. The Balance Sheet Review independent assessment remains a priority to enhance transparency of the solvency and financial position of the Romanian insurance undertakings.
Related Link: Notification
Keywords: Europe, EU, Romania, Insurance, Balance Sheet Review, Transparency, ASF, Solvency II, Solvency Position, EIOPA
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