Head of CSA replaced

Nicolae Crisan, chairman of the Insurance Supervision Commission (CSA), will be removed from office and replaced by Angela Toncescu, formerly the president of Asirom and the current manager of RAI Asigurari. Crisan stayed in this position for five years, monitoring a market worth over 1.2 billion euros. Angela Toncescu, nominated by the PNL (National Liberal Party), left Asirom after talks with majority shareholder Ioan Niculae. Toncescu is one of the best-known figures on the insurance market. The assembled budget-finance committees on Tuesday voted the new structure of the CSA board, which will include an additional two new members. The new board of the Commission will consist of seven members, including one chairman and two vice-chairmen, Tudor Balta, nominated by the PSD (The Social Democrat Party), and Constantin Buzoianu, nominated by the PD (the Democrat Party).