The insurance company Asito accuses the National Commission for Financial Markets of attempting to destroy the company and to capture its assets amounting to 300 million lei.

According to the press-release, the charges appeared after the media published information about the possibly exclusion from Green Card insurance system because of the Asito’s debts abroad.

According to the insurance company the debt of 60 000 euros to the foreign companies have accumulated because NCFM seized the Asito’s investment deposit accounts.  The process of unlocking the money for insurance payments by the NCFM and the National Bank of Moldova takes weeks.

"ASITO was deprived of the opportunity to exercise their obligations to its customers and of investment activities. By its decision, the NCFM has exceeded its powers because the Moldovan law does not allow the Commission the restricting of managing the insurance company assets", claimed the ASITO.


The NCFM decision was challenged. It all began in late April, when the ASITO hadn’t pay its debts to the Italian Green Card Bureau worth 57 000 euro. On 12 May 2016, the National Bureau of Motor Insurers оf Moldova received the warning note from the Green Card International Bureau because of its debts. The late payment was caused by the NCFM: its decision to allocate money for the payment took more than 10 working days.

Despite the fact that the money from the ASITO reserve fund weren’t unlocked, the company found the opportunities to fulfill their obligations to the Green Card system.

The ASITO blames the NCFM for that situation that damages the country's image within the Green Card international system and the international insurance community. The shareholders and management of the insurance company consider that the NCFM actions are the political move which aim is the liquidation of the oldest insurance company from Moldova. Another aim is to capture the company's insurance reserves amounting of 300 million lei.

Filip-Iurie.jpgOn the other hand, the deputy director of the National Commission for Financial Markets Iurie Filip commented to the that those accusations "are meaningless and have no rational support".

We remind that Moldova could be excluded from the Green Card system since May 2015 due to delaying the money transfer to the guarantee external fund of the Green Card insurance system.

On June, 2 the Council of the Green Cars Bureaux will take in Brussels a new decision on the Green Cards issued by the Moldovan autochthon insurance companies.

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