Astra Branch Office: the funds of the guarantee institutions are available

Budapest, 24 September 2015 – Contrary to certain false information published in the press, pursuant to the statutory provisions, the Romanian and Hungarian guarantee funds are obliged to stand surety for the Hungarian injured parties of the Romanian Astra Insurance Company, and they have necessary funds for this. MABISZ is already performing the claim inspection of the MTPL claims, the compilation of the claim documentation and the claim payments in respect of claims occurred after 17 August. With the ordering of the liquidation of the insurance company the payments by the guarantee institutions related to the earlier claims will also commence. The Astra customers are advised to accept the insurer's proposal with regard to the termination of their contract by mutual consent.

Contrary to certain false information published in the press, it is the statutory obligation of the Romanian and Hungarian insurance guarantee funds to reimburse the customers for the motor third party liability insurance (MTPL) damages – and actually in the case of the Romanian guarantee fund (FGA) also for the damages arising from other insurance relations – related to the Romanian Societatea Comerciala de Asigurare-Reasigurare Astra S.A. Insurance Company (Astra Insurance Company) after the liquidation of the insurer. Both guarantee funds have the funds necessary for this, as prescribed by the laws.