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August 15, 2022
BUSINESS

Cristian Constantinescu will step down from the position of UNSAR president

The president of the National Association of Insurance and Reinsurance Companies of Romania (UNSAR), Cristian Constantinescu will step down on July 1st, after he was nominated for the position of head of the Insurance Supervisory Commission (CSA) and ended his collaboration with Allianz-Tiriac Asigurari, Mediafax reports. Constantinescu led the operations of Allianz-Tiarac Asigurari until May 2010, when he was replaced by the vice-president of Allianz New Europe, Rangam Bir. Afterwards, he acted as counselor to the current CEO of Allianz-Tiriac, for a 12-month interval. He is supported by the ruling Democratic Liberal Party to replace acting CSA head Angela Toncescu. This fall, the Parliament will appoint the new president of the insurance supervisory body for the next 5 years. Under the UNSAR statute, the mandate of president may be held only by one of the member companies, as a result of elections. In its turn, the chosen company appoints a representative for this position.

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