Corporate Governance

The Corporate Governance is in accord with the existent legislation and serves the purpose to assure the activity transparency of Soc. TRANSILVANIA BROKER DE ASIGURARE S.A., in order to ensure that all shareholders and potential investors have an equal level of access to all the information in regards to the company.

 

The corporative bodies of Soc. TRANSILVANIA BROKER DE ASIGURARE S.A. are structured as follows:

The General Shareholders Assembly, which represents the highest decisional authority of the Company, The Administration Council and The Executive Management.

 

The General Shareholders Assembly (AGA in Romanian) is the main managing body, which regulates the Company’s activity and assures its economic and commercial policy.

 

AGA can be Ordinary or Extraordinary in nature and it takes place in the company’s city of residency.

 

TRANSILVANIA BROKER DE ASIGURARE S.A. is managed in a unitary system, by an Administration Council, composed from 3 managers, individuals (not a legal entity) which are Romanian and/or foreign nationals, appointed by the General Shareholders Assembly.

 

The first Administrators of the Company have been designated through the Constitutive Act.

 

A majority of the Administration Council members is formed from non-executive managers.

 

The managers’ term of office is 4 (four) years from the appointment date, being eligible for more than one term. The term of office for the first Council members is 2 (two) years, also qualifying for more than a single term.

The Administration Council is formed from

NICULAE DAN

NICULAE DAN

Age: 43

Date of Birth: 1976

In Function Since: 2017

TUICA GABRIEL-ALEXANDRU

Non-executive Member

Age: 37

Date of Birth: 1982

In Function Since: 2017

DENES TASIA-DANIELA

Independent Member

Age: 45

Date of Birth: 1974

In Function Since: 2017

The Executive Management of the Company is delegated by the Administration Council to two directors: one General Manager( Niculae Dan ) and one Executive Manager ( Cotiac Ion ) .

The President of the Administration Council also serves as General Manager.

The attribution to represent the Society belongs to the General Director.

The executive management of the Company is invested with the competency to assume the responsibility (be held liable) of the Company, as an insurance broker.

The two managers, have the status of executive leaders of the Company as imposed by the Company Law, Law 32/2000 in regards to the activity and supervision of insurance intermediaries, with the subsequent changes and additions and by the Norms issued by the Financial Supervisory Authority regarding the authorisation and functioning of insurance and/or reinsurance brokers.

The executive leader/leaders of the broker are responsible for the fulfilment of all conditions imposed by the law, including those concerning qualification, integrity, reputation and professional experience established by the applicable norms issued by the Financial Supervisory Authority.

Within the structure of the Administration Council functions the Audit Committee,, with a consultative role, composed from two members ( Denes Daniela-Tasia si Tuica Gabriel-Alexandru ) , which respect the requirements stipulated by the applicable legal provisions.

Constitutive Act

Corporate Governance Documents

Key policies and procedures

The data regarding the insurance market, the insurance brokerage market, the market share, the position on the marker and any other information origination from the data regarding the insurance market and the insurance brokerage market for the last year, will be added after the month of April of the current year. This message does not represent an offer of financial services, none of this content can be interpreted as a recommendation to invest, the decision to invest must be taken individually following the analysis of the financial situations of Transilvania Broker and the perspectives of the insurance market. Every potential investor should consult his own financial consultant, regarding the subscription or the acquisition of Securities. The price of Securities, as well as the income and dividends related to them, if they exist, can either increase, either decrease.

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