MABISZ to accept claims by drivers with Astra policies

Telco

The Hungarian Association of Insurers (MABISZ) yesterday said it will accept claims by local holders of mandatory vehicle insurance policies issued by Astra. MABISZ will accept claims on damages that took place after August 17 that have not already been submitted to Astra. 

Romanian insurer Astra, which has a branch in Hungary, was declared insolvent and its license withdrawn by Romaniaʼs financial market watchdog in August. Hungarian clients of Astraʼs Hungarian branch are eligible for compensation from Romaniaʼs state insurance guarantee fund up to the equivalent of €100,000.

Astraʼs Hungarian business had revenue from premiums of HUF 2.8 bln in the first half, giving it a market share of 0.62%, according to data compiled by the Hungarian Insurers Association (MABISZ). Revenue on premiums from mandatory vehicle insurance policies accounted for HUF 2.2 bln of the total.

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