DEPLOYMENT EFFECTS OF THE SOLVENCY II PRUDENTIAL INDICATORS ON ROMANIAN INSURANCE COMPANIES
DEPLOYMENT EFFECTS OF THE SOLVENCY II PRUDENTIAL INDICATORS ON ROMANIAN INSURANCE COMPANIES
Author(s): Gabriela BilevskySubject(s): Accounting - Business Administration, Socio-Economic Research
Published by: Scientia Moralitas Research Institute
Keywords: SOLVENCY II; financial insurance evolution; Romanian insurance companies;
Summary/Abstract: This paper shows the extreme way in which three Romanian insurance companies went through important economic-financial moments between 2004-2016 (Romania’s accession to the EU starting January 1, 2007; the economic-financial crisis of 2008- 2010; introduction and application of the new system of macro prudential supervision Solvency II from January 1, 2016). The evolution of these companies is studied based on the main financial indicators in the Annual Financial Reports of each company. The three companies chosen are: ABC Asigurări which has the lowest market share, Asito Kapital which has undergone changes in the total structure of the shareholding and Carpatica - a company declared insolvent, in bankruptcy procedure, concluding with the withdrawal of the company’s operating license as of 27.07.2018.
Journal: Internal Auditing & Risk Management
- Issue Year: 56/2019
- Issue No: 4
- Page Range: 48-57
- Page Count: 9
- Language: English