May 11
2021
Juan Jonás
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4th May 2021
Banking & Finance

ESAs’ Joint Board of Appeal dismisses appeal by Societatea de Asigurare-Reasigurare City Insurance SA against EIOPA

The Joint Board of Appeal of the European Supervisory Authorities (ESAs) has unanimously declared an appeal lodged by the Societatea de Asigurare-Reasigurare City Insurance SA against the European Insurance and Occupational Pensions Authority (EIOPA) as inadmissible. 

The appeal was brought on December 2020 under Article 60 of the EIOPA Regulation (1094/2010), in connection with a balance sheet review (BSR) exercise performed by the Romanian Autoritatea de Supraveghere Financiară, jointly with the cooperation of the EIOPA, which targeted the insurance sector in Romania.

In its claim, the appellant alleged:

that EIOPA acted in excess of its regulated competence; the Romanian BSR was of an excessive, disproportionate, in
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