ORDER OF THE GOVERNMENT OF THE REPUBLIC OF MOLDOVA

of April 16, 2025 No. 202

About approval of Methodology of determination of shares of insurance or reinsurance companies which acquisition is recognized to the being equitable public concerns

Based on part (4) articles IX of the Law No. 259/2024 on modification of some regulations (simplification of access for local entrepreneurs to the foreign capital markets) (The official monitor of the Republic of Moldova, 2024, Art. No. 490-493, 663), with subsequent changes, DECIDES: the Government

1. Approve Methodology of determination of shares of insurance or reinsurance companies which acquisition is recognized to the being equitable public concerns it (is applied).

2. This resolution becomes effective from the date of publication in the Official monitor of the Republic of Moldova.

Approved by the Order of the Government of the Republic of Moldova of April 16, 2025 No. 202

Methodology of determination of shares of insurance or reinsurance companies which acquisition is recognized to the being equitable public concerns

I. General provisions

1. The methodology of determination of shares of insurance or reinsurance companies which acquisition is recognized to the being equitable public concerns (in dalneyshem-Metodologiya) regulates the procedure by means of which it is determined whether acquisition of shares of insurance or reinsurance companies by the Government answers public concerns.

2. Object of the acquisition which is of public interest are the shares which are again issued according to the decision of executive body of insurance or reinsurance company according to part (3) article 54-1 of the Law No. 121/2007 on management of public property and its privatization.

II. Indicators of determination of shares of insurance or reinsurance companies which acquisition is recognized to the being equitable public concerns

3. Share acquisition of insurance or reinsurance company is considered to the being equitable public concerns if according to the last annual reports submitted according to Item b) parts (1) article 44 of the Law No. 92/2022 on insurance and reinsurance activity, the relevant insurance or reinsurance company occupies one of the first three places in the list of insurance and reinsurance companies of the Republic of Moldova at least by one of the following main quantitative indices:

3.1. total cost of assets - the total amount of assets declared by insurance or reinsurance company;

3.2. total amount added gross - awards - the total amount of the awards registered by insurance or reinsurance company;

3.3. total quantity of operative policies - the number of the operative policies issued by insurance or reinsurance company for date of creation of information required according to Item 8.

4. If insurance or reinsurance company does not correspond to the indicators specified in Item 3, acquisition is qualified as being equitable to public concerns if insurance or reinsurance company corresponds at least to one of the following indicators:

4.1. has low degree of replaceability - insurance or reinsurance company offers specialized services of insurance or reinsurance which are not offered by other service providers of insurance or reinsurance in the market, or the existing offer is limited, and exit from the market or deterioration in financial position of insurance or reinsurance company in part sense (2) article 77 of the Law No. 92/2022 on insurance and reinsurance activity will lead to decrease in the competition in the insurance market;

4.2. has strategic importance and is of interest to ensuring state security - insurance or reinsurance company performs activities for insurance or proprietary reinsurance of the public sphere and critical infrastructure according to provisions of article 3 of the Law No. 120/2017 on the prevention and fight against terrorism and according to the National list of objects of critical infrastructure approved by Service of information and safety, managed by the Anti-terrorist center of Service of information and safety based on the Regulations on anti-terrorist protection of critical infrastructure approved by the Order of the Government No. 701/2018.

III. Stages of recognition of share acquisition of insurance or reinsurance companies to the being equitable public concerns

5. Recognition of share acquisition of insurance or reinsurance company to the being equitable public concerns is performed with the corresponding application of provisions of parts (2) and (3) article 54-1 of the Law No. 121/2007 on management of public property and its privatization and includes the stages provided in this Chapter.

6. Initiation of process of recognition of share acquisition of insurance or reinsurance companies to the being equitable public concerns is performed by the Ministry of Economic Development and digitalizations according to the order of the Government.

7. For recognition of share acquisition of insurance or reinsurance companies the order of the Minister of Economic Development and digitalization which is equitable to public concerns the staff of the Interdepartmental commission on recognition of share acquisition of insurance or reinsurance companies to the being equitable public concerns in reasonable time affirms (further - the Commission).

8. For the purpose of recognition of share acquisition of insurance or reinsurance companies to the being equitable public concerns the Commission requests from National Bank of Moldova (further - NBM) as supervision body behind insurance field and reinsurance data on activities of the relevant insurance or reinsurance company which are necessary for determination of compliance to the indicators provided in Items 3 or 4, depending on circumstances.

9. At the request of the Commission of NBM within 5 working days from the moment of receipt of request collects and transfers the following data on activities of the relevant insurance or reinsurance company:

9.1. statistical information, including collected NBM, according to Item 3 with indication of rating line item of this insurance or reinsurance company in the insurance market;

9.2. information on accomplishment of the indicators provided in Item 4, depending on circumstances.

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