Romanian Astra insurer goes bust, Hungarian clients seek compensation

Telco

Romanian insurer Astra, which also has a subsidiary in Hungary, has gone insolvent and its license has been withdrawn by Romania’s financial market watchdog Autoritatea de Supraveghere Financiară (ASF), the National Bank of Hungary (MNB) reported this morning.

According to the central bank’s report, Hungarian clients of Astra are eligible for compensation by Romania’s state insurance guarantee fund up to the equivalent of €100,000. ASF appointed an oversight commissioner to the insurer last year, MNB reported.

Astra saw revenues from premiums of HUF 2.8 bln in the first half, and a market share of 0.62%, according to data compiled by the Hungarian Insurers Association (MABISZ), Hungarian news agency MTI reported.

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