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Insurance regulation

The Romanian insurance market has been one of the fastest growing markets in the financial sector over the past 15 years. In 2017, it reached a total in excess of 2 billion euros in gross premiums, more than 60% of the value being intermediated by insurance brokers.  Life insurance has had an impressive growth rate of 21%, while in the non-life sector car insurance accounts for about 50% of total premiums. 

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Our Relevant Experience
  • Advised an internationally renowned Swiss insurer on the cross-border provisions of non-admitted insurance.
  • Advised one of Romania's top insurers on various commercial and regulatory issues, including a full review of several template agreements used by the company in its day-to-day activity.
  • Reviewed, and ensured compliance with, the internal regulations of one of the most prominent insurance brokers in Romania.
  • Advised one of the largest insurers in Romania to successfully challenge tender procedures conducted by a government institution.
  • Performed due diligence on a Romanian insurance company which was subsequently acquired by a well-known Italian insurance group.
  • Performed due diligence and drafted memoranda and reports for a significant number of Romanian and foreign companies regarding compliance with the Romanian insurance legal framework.
  • Provided legal assistance on various projects for the Romanian subsidiary of a leading French insurance broker, eg. drafting and revising templates of different agreements used in its business activity and advising on specific regulatory matters in front of the Romanian Financial Supervisory Authority.
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