The Fund for Insurers’ Guarantee (FGA) announced on Monday that payments to creditors of bankrupt former RCA leader, City Insurance, reached approximately 385 million lei by 31 August. This amount refers to more than 40,000 approved requests, but the total number of currently registered payment requests is six times higher.

The Insurance Guarantee Fund reported that it agreed to 40,305 payment claims within the framework of the Special Commission until August 31, 2022.

The payments made by the Fund up to that date to the insurance creditors of Societatăi de Asigurare Reasigurare City Insurance SA thus reached a total of approx. 385 million lei.

The total number of fully registered payment requests is 6 times larger

The Federal State Administration says that payment claims are considered in the order they are submitted by creditors, and are analyzed by the specialized departments of the Fund.

• “Currently, the Federal Tax Service has completed the process of registration of payment requests received by August 31, 2022. The total number of registered requests is approx. 248,000,” the message says.

In relation to the number of approved applications, the total number of applications registered with the FSB is more than 6 times greater.

You can monitor the stage of settlement of payment applications on the Fund’s website.

How much FGA paid for the bankruptcy of Astra and Carpatica by the end of 2020

According to the FGA, in the period 2015-2020, the Insurers’ Guarantee Fund paid out more than 912 million lei in compensation due to insurance bankruptcies. Of the total amount of these payments, more than 466.6 million lei went to the insurance creditors of Astra Asigurări, while the creditors of Carpatica Asig received 437.7 million lei.

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