National Bank of Moldova (BNM) has published an updated register of sanctions against professional participants in the insurance market, detailing the measures applied, the nature of the breaches identified and the status of any challenges. Sanctions listed for 2025 include a warning to ÎM CA GRAWE CARAT ASIGURĂRI SA for breaches of prudential requirements on underwriting risk, governance and internal control, a warning to Insurance and Reinsurance Company MOLDCARGO SA for non-compliance with requirements applicable to compulsory external motor third party liability (RCA) insurance, a MDL 122,730.88 fine on Insurance Company ASTERRA GRUP SA for underwriting-risk prudential shortcomings, and a warning to ACORD GRUP SA for similar underwriting-risk issues. The register also includes an Executive Committee decision dated 5 November 2025 imposing a MDL 2,015,365.12 fine on INTACT ASIGURĂRI GENERALE SA for failures relating to underwriting-risk prudential requirements, governance and internal control, with the insurer’s preliminary challenge rejected as unfounded. For the listed insurer actions, the register notes that the insurers continue to operate normally and provide their insurance services. For 2024, the BNM reports licence withdrawals for AECM ASIGURĂRI SRL, OMEGA BROKER SRL, PROGRES ASIG SRL and EXCLUSIV-ASIG SRL for breaching statutory conditions for insurance and reinsurance broking. OMEGA BROKER SRL’s court challenge was dismissed by the Court of Appeal Centru on 20 March 2025 and the decision was appealed to the Supreme Court of Justice, while preliminary challenges by OMEGA BROKER SRL and PROGRES ASIG SRL were rejected by the BNM’s Executive Committee. Other measures include a warning to MOLDCARGO SA related to audited consolidated IFRS and specialised consolidated financial statements for 2022, a MDL 123,252.5 fine on CIA TRANSELIT SA and a MDL 139,761.0 fine on its director general for prudential, governance, internal control and ICT risk-management shortcomings, and fines of MDL 127,615.07 and MDL 122,597.12 on the director general of MOLDASIG SA and on INTACT ASIGURĂRI GENERALE SA, alongside a warning issued to INTACT’s actuary for breaches concerning calculation and maintenance of technical insurance reserves.
National Bank of Moldova 2025-04-09
National Bank of Moldova updates insurance enforcement register with broker licence withdrawals and MDL 2,015,365 fine for INTACT ASIGURĂRI GENERALE
The National Bank of Moldova (BNM) updated its sanctions register for the insurance market, detailing fines and warnings for breaches of prudential requirements, governance, and internal controls. Notable actions include a MDL 2,015,365.12 fine on INTACT ASIGURĂRI GENERALE SA and licence withdrawals for several brokers in 2024. Despite these sanctions, affected insurers continue to operate normally.