The Chairman of the Financial Supervision Commission, Boyko Atanasov, urgently communicated about the decision to open insolvency proceedings against Certasig – Insurance and Reinsurance Company AD becoming effective

For the purpose of information and transparency to the Bulgarian public on the case with Certasig-Insurance and Reinsurance Company AD, whose license was revoked by the Insurance Supervision Authority in the Republic of Romania, and in addition to the information already published on the FSC website dated 19.01.2021, the Chairman of the Financial Supervision Commission Boyko Atanasov presented a communication campaign informing the persons who have insurance claims to the company that with a Decision of 14.01.2021 of the Court of Appeal in in Bucharest, the decision to initiate proceedings on the insolvency of Certasig – Insurance and Reinsurance Company AD has been confirmed and has become effective as of 14.01.2021.

According to the information available to the FSC, in accordance with the applicable legislation of the Republic of Romania, insurance contracts concluded with Certasig – Insurance and Reinsurance Company AD continue to be valid after the date of revocation of the company’s license up to 90 days after the court decision for initiating insolvency proceedings becoming effective (15.04.2021) or until one of the following dates – the date of expiration of the contract or the date of its termination by the policyholder through a unilateral notification addressed to the insurance company.

The persons who have claims for insurance compensation in connection with insurance events or for insurance premiums corresponding to the unexpired term of insurance contracts that have been terminated prematurely can file their claims to the Romanian Guarantee Fund for Policyholders in Romania.

Any person who has an insurance claim against the company may submit a justified request to the Guarantee Fund of the Republic of Romania (address: 24 Popa Petre Street, sector 2, Bucharest, e-mail: and phone:,, fax: ), as of the date of the decision of the Financial Supervision Authority of the Republic of Romania to revoke the license of Certasig – Insurance and Reinsurance Company AD, but not later than 90 days from the date of the decision becoming effective – 15.04.2021 and in case this right has arisen after the opening of the insolvency proceedings – within 90 days from its occurrence. Claims can be filed directly in the headquarters of the Romanian Guarantee Fund, by post, by e-mail or in other ways that guarantee submission and confirmation of receipt.

more information on the protection provided by the insurance claims guarantee scheme in the Republic of Romania, on the authorized persons and on the procedure under which claims can be made is available at

In adherence to the commitment of awareness and transparency made by Mr. Boyko Atanasov, Chairman of the FSC, the Financial Supervision Commission will continue to communicate the relevant information concerning the protection of the rights and interests of the users of insurance services in connection with all subsequent measures against the insurer and its branch in the Republic of Bulgaria on its website: