Romanian insurer Astra, which has a branch in Hungary, was declared insolvent and its license withdrawn by Romaniaʼs financial market watchdog in August.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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