The abuse against S.A. – R CITY INSURANCE S.A. recognized by the Italian justice
After two and a half years of accusations, City Insurance is exonerated by the State Council of the Italian Republic by means of a definitive and indefeasible decision.
Bucharest, February 24
S.A. – R City Insurance S.A. publicly announces decision number 00840, of February 21st 2014, of the State Council of the Italian Republic (the equivalent, in Romania, of the High Court for Justice and Cassation – the legal department) that ANNULS decision number 2988/02.07.2012, of the Institute for Insurance Supervision, forbidding the company the right to subscribe new insurance policies on Italian territory. Therefore, the company has the right to subscribe new insurance policies on Italian territory. The justices of the Italian supreme court ascertained that an ABUSE against S.A. – R City Insurance S.A. was committed, abuse now remedied.
Through the definitive and indefeasible decision of the Italian Supreme Court, the suspicions regarding our company are debunked – those concerning the association with mob-like structures, insufficient share capital, unpaid debts to intermediaries and insured persons, non-payment of the due taxes to the Italian state, as well as the press release of the Financial Guard of the Venice region from April 17 2012.
As a result of this decision, S.A. – R City Insurance S.A. will use all the legal means to recover its commercial and reputational damages occasioned during this period.
Given the clear and unequivocal decision of the Supreme Court, any ill willed and negative comments about S.A. – R City Insurance S.A. regarding this issue constitutes false information.
We wish to thank you for your interest and, at the same time, assure you that S.A. – R City Insurance S.A. respects journalistic accuracy and the access to the truth and offers you transparent information about the company.
 IVASS – Instituto per la Vigilanza sulle Assicurazioni, Italia.