The Bucharest Court of Appeal rejected, on Thursday, as unfounded, the request of Euroins Romania to suspend the Decision by which the Financial Supervisory Authority (ASF) ordered the withdrawal of the operating authorization of the insurer, ASF (Financial Supervisory Authority) informs, write Agerpres.

The Council of the Financial Supervisory Authority decided, on March 17, 2023, to withdraw the operating authorization of the Euroins Romania Asigurare-Reasigurare S.A. Company, noting the signs of the company’s state of insolvency.

According to the provisions of art. 7 paragraph (2) of GEO no. 93/2012, ASF is the only authority able to pronounce on the appropriateness, assessments and the qualitative analyzes on the grounds of which its documents are being issued, states the same source.

Eurohold Bulgaria AD is an energy and financial group that operates in Central, Eastern and South-Eastern Europe, and is listed on the Stock Exchanges of Bulgaria and Warsaw respectively. Eurohold owns Euroins Insurance Group AD (EIG) which offers a complete range of insurance products, serves more than 4 million clients in 11 countries and has more than 3,000 employees. Eurohold is the owner of Electrohold, an energy group from Bulgaria, with a 40% share in energy distribution. Electrohold has 3,000 employees and serves over 3 million consumers in the country.