ISC approved the appointment of Marius BULUGEA as President of PAID
ISC confirmed, on the 1st of February, the information published exclusively by 1asig.ro on the 22nd of January, 2010, according to which Marius BULUGEA was appointed President of PAID, in the meeting on January 21st of the Administration Board of the company. Thus, the ISC Board approved, on the 1st of February, the Administration Board of PAID, the appointment as President/General Manager of Marius BULUGEA and that of Nicolae MUSAT as Vice-president.
The new Administration Board of PAID, appointed at the meeting on January 21st and approved by the ISC, consists of: Radu MUSTATEA (ASTRA Asigurari), Adina BACIOIU (ARDAF), Anca BABANEATA (CLAL Romania), Nicolae MUSAT (CITY Insurance), Stefan DICU (GROUPAMA), Marius BULUGEA and Marinela NEMES (ISC).
"Given the fact that Romania is situated in a geographical area with very high risk of producing natural calamities and the social role of Law nr.260/2008, we believe that, together with the General Manager, Mr. Marius BULUGEA, the Administration Board of PAID will make all the efforts for the successful implementation of the law of mandatory household insurance against earthquakes, landslides or floods, in the shortest time possible", said the ISC President, Angela TONCESCU.
The Insurance Pool Against Disasters was formed on September 23rd, 13 insurance companies authorized to conclude mandatory household insurance against earthquakes, landslides or floods being part of the shareholding of the company.
ASTRA Asigurari, CLAL and GROUPAMA own the maximum stake acceptable by law for the newly established pool - 15%. The other 10 member-companies each have 5.5% of the share capital of PAID, fixed at EUR 4.55 million.
Author: Andreea IONETE
on 02.02.2010
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