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Norm regarding the ending of the financial year 2013 for the insurance companies

In the Official Gazette of Romania, Part I, no. 181 of 13 March 2014 was published the norm of the Financial Supervisory Authority no. 1/2014 regarding the ending of the financial year 2013 for the insurance companies.

The norm regulates the ending of the financial year 2013 for the insurance companies.

Thus, the insurance companies, insurance-reinsurance and reinsurance, as well as the insurance brokers, insurance-reinsurance and reinsurance are required to prepare the annual financial statements by 31 December 2013, including in the merger, division or liquidation situation, under the law.

The annual financial statements at 31 December 2013 will be submitted as follows: one copy to the FSA and the second copy, stamped with the stamp of the Financial Supervisory Authority, to the territorial units of the Ministry of Finance.

The annual financial statements at 31 December 2013 will be made in accordance with the provisions of the accounting regulations compliant with European directives specific to the insurance field, approved by the Order of the President of the Insurance Supervisory Commission no. 3129/2005.

:: The Source: JURIDICE.ro

Corina PESCARU

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