ASF to appoint three members of Board of Directors of Insurance Guarantee Fund

The Financial Supervisory Authority (ASF) will begin the process of appointing three members of the Board of Directors of the Insurance Guarantee Fund, appointed by the institution, according to legal provisions.

"In accordance with Article 20, Chapter IV of Law no. 213/2015 on the Insurance Guarantee Fund, the members of the Fund's Board of Directors must cumulatively meet the following conditions: to be graduates of long-term university studies with a bachelor's degree or with short-term university studies with a bachelor's and master's degree; to have a good reputation and honorability; to have proven professional experience in the financial field or in the regulatory/supervisory activity of banks, finance or insurance or in teaching activity in higher education in the economic field of at least 8 years.", it is mentioned in a press release from ASF, transmitted to AGERPRES on Friday.

Persons interested in filling such a position can submit their application between September 10 and 24, 2025.

According to the law, the Board of Directors of the Insurance Guarantee Fund is composed of five members: three are appointed by the ASF, one of whom is elected as president of the Board of Directors, and two members are appointed by the Ministry of Finance.

ASF is the national authority, established in 2013 by GEO 93/2012 approved by Law 113/2013, for the regulation and supervision of the insurance markets, private pensions, as well as the capital market.

The institution contributes to the consolidation of the integrated operating framework of the three sectors, which total over ten million participants.