The suspension of authorisations for the chairman of AvivaAsigurări and for a board member by the supervisory authority,announced by ZF last week, has become a news item for prestigiouseconomic daily Financial Times, given that the parent of theRomanian company is a giant company, the leader of UK 's insurancemarket. FT writes that the failures uncovered show how difficult itis to do business in emerging Europe.
Two board directors of Aviva group's Romanian subsidiary havebeen barred from the Romanian insurance industry after the localsupervisory authority sanctioned them for a string of accountingand governance failures, writes the Financial Times in its Friday,September 17th issue.
Janos Bartok, chairman of Aviva Asigurări de Viaţă, and Shah Rouf,board member and former chief executive of the unit, were eachsanctioned for 34 failures related to discrepancies in accountsfiled with the regulator as well as lax risk management andmoney-laundering safeguards, the daily also writes.
The news was published by ZF last Tuesday and sparked the interestof FT because Aviva is UK's largest insurer as well as one of theworld's largest.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
