During October 8 PAID board session, Constantin Toma, chairman of Omniasig was appointed as president of PAID, while Radu Mustatea, head of Astra Asigurari Directorate was appointed as deputy president.

“The board of PAID is aware of the social footprint of mandatory home insurance scheme. Since the inception documents were signed two weeks ago, all PAID founder companies have already contributed to the share capital. In the coming period, the board of PAID will continue its efforts in recording PAID at the Trade Registry”, said Constantin Toma in a communiqué.

Sources close to the issue said the chairman of VIG-owned Omniasig, Constantin Toma submitted his resignation on Thursday.

The 13 insurance companies to issue mandatory insurance policies have paid in the amounts previously factored in as participation to PAID’s share capital, which total €4.55 mln.

The final configuration of PAID’s board have been reaffirmed. On behalf of shareholders with 15% stake in PAID, have been nominated Radu Mustatea (Astra Asigurari), Denis Rousset (Groupama Asigurari) and Constantin Toma from Clal Romania.

The insurers who signed the inception documents are Astra Asigurari, Groupama Asigurari, Clal Romania, Uniqa Asigurari, City Insurance, Certasig, Ardaf, Generali Asigurari, Carpatica Asig, EuroIns Romania, Grawe Romania Asigurare, Credit Europe Asigurari and ABC Asigurari.