The bankruptcy of insurer Euroins could generate 140,000 damage files and payments worth EUR 250 mln, vice-president of the Financial Supervisory Authority (ASF) Cristian Roşu said on March 21, while the ASF management delivered to a committee of Senators a report on the case, Adevarul reported.

ASF revoked the license to the leasing insurer Euroins at the end of last week, based on “signs of insolvency”, and announced it would take steps towards the bankruptcy of the insurer, part of the Bulgarian group Eurohold.

The ASF vice-president estimated that the insurance contracts would remain valid for another nine months – meaning 90 days after the court opens the bankruptcy procedures. He thus estimates that the court will not go ahead with the bankruptcy of the leading insurer sooner than six months.

Euroins and its Bulgarian parent group, Eurohold, challenged ASF’s decision.

iulian@romania-insider.com

(Photo source: Inquam Photos/Octav Ganea)