GALAS Insurance Company has announced about voluntary refusal of a license for insurance activities.
The corresponding decision at the extraordinary meeting on September 23 was made by the sole shareholder of the company. The company published a voluntary license waiver announcement in Monitorul Oficial. It should be noted that in early September, the National Commission for the Financial Market approved the Financial Recovery Plan of the GALAS insurance company for 12 months. This happened after, in connection with the company’s failure to comply with solvency standards, the regulator introduced a special administration procedure for this company. GALAS insurance company was established in 2001. ...