Announcement Regarding the Provisional Administration of MOLDASIG S.A.
Following the decision of the Board of the National Financial Market Commission (CNPF), published in the Official Gazette on July 26, 2019, regarding the provisional special administration of MOLDASIG S.A. by the supervisory authority, the company would like to make the following clarifications:
MOLDASIG S.A. operates in full compliance with the current legislation of the Republic of Moldova. As a leader in the insurance market, the company honors all its obligations under insurance policies and continues to operate without restrictions, as no limiting or suspending measures have been imposed on its activities.
In the first half of 2019, MOLDASIG S.A. underwrote insurance premiums totaling 109.5 million lei, equivalent to 145,000 policies, and paid out claims amounting to 37.4 million lei. The company reaffirms its commitment to directing all efforts and resources towards maintaining and strengthening mutually beneficial relationships with its clients.
As of June 30, 2019, the company holds total assets of over 600 million lei and records a solvency ratio of approximately 400%.
The CNPF’s management of MOLDASIG S.A.'s suspended and newly issued shares aims to ensure a transparent process for selling the share package, consisting of 480,000 shares (representing 79.98%). The CNPF's decision does not affect the operational activities of MOLDASIG S.A. nor does it impact the company’s financial stability or performance.
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