Official Journal 140/February 24th – Order no. 3/2011 as of February 15th, 2011 for the implementation of the Norms regarding the completion of the financial year 2010 for the insurance companies
This order approves the forms and the methodological norms for drawing up and submitting the yearly financial statements by the insurance companies.
According to the norms, the yearly financial statements completed on December 31st, 2010 shall be submitted in one copy at the Insurance Surveillance Commission, while the second copy, endorsed by applying the stamp of the Insurance Surveillance Commission, shall be submitted to the local units of the Ministry of Public Finance.
The insurers, the reinsurers and the insurance and/or reinsurance brokers shall submit by April 15th, 2011 to the Insurance Surveillance Commission the yearly financial statements in printed, signed and stamped copies together with the following:
- A copy of the VAT number;
- The director’s report;
- The written statement of the persons who are responsible for organizing and managing the accounting records;
- The statutory audit report (for the financial statements for which the audit is compulsory);
- The auditors’ report or the report of the chartered accountant, where applicable;
- A copy of the protocol of the general shareholders’ meeting;
- The proposal regarding the allocation of profit or for covering the accounting loss;
- A copy of the trial balance of the synthetic and analytical accounts;
- The insurers which offer the two types of insurance (life insurance and general insurance) shall submit to the Insurance Surveillance Commission both the analytical and synthetic balance sheets corresponding to each insurance category as well as the centralized ones;
- The insurers which manage optional retirement funds shall also submit the analytical balance sheets specific to the activity of managing optional retirement funds;
- The statement under the form presented in appendix no. 3 to the Norms regarding the information and reporting requirements concerning the statutory audit of the financial statements of the insurance/reinsurance companies, approved through the Order of the President of the Insurance Surveillance Commission 22/2008.
The insurers and the insurance and/or reinsurance brokers who did not carry out any operations from the set-up date until December 31st, 2010 should not draw up financial statements on December 31st, 2010; within 60 days from the end of the financial year, they shall submit an affidavit.
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