OREANDA-NEWS. December 17, 2009. As it was informed in the company, the Appeals Chamber of Balti has considered the appeal of "Moldasig" against the decision of Riscani court.

In connection with the presence of gross violations of legal procedures, the decision of the district court Riscani was cancelled and the case was sent for retrial. It is noted that since very beginning, the administration of "Moldasig" has declared that the decision of the district court Riscani was unlawful because it was made on the basis of forged documents and gross violations of judicial procedures committed by the judge during the trial.

"The decision of the Appeals Chamber will allow "Moldasig"to take part in a new trial in strict compliance with the existing legislation and to prove that all claims against the company is a carefully planned raiders’ attack-" the statement said. Simultaneously with the trial, the authorities of the country in accordance with the request of the Prime Minister Vladimir Filat, as well as on the basis of the official requests of "Moldasig" are still investigating situation in order to prevent any raider attacks in future. "Moldasig" drew the attention of all interested parties that the sole directors of the Cyprus company "Linekers Investments Limited" (a subsidiary group of companies "Rosgosstrakh", which is the largest owner of "Moldasig"), are Andreas Spyrides and Demetra Stavrinou.

The International Insurance Society "Moldasig" SRL was founded in 2002 and is the leader at the insurance market of Moldova. In I half of 2009, the market share of "Moldasig" amounted to 32,2%. The amount of the insurance premiums attracted made up 122.8 million leis, payments - 89.3 million lei, accounting for 46% of the total insurance premiums at the market. 75% of all premiums in the insurance portfolio of the company accounts for individuals and 25% - for legal entities.

In 2008, equity of the company was increased from 12 up to 60 million leis by contribution of a subsidiary group of companies "Rosgosstrakh" ("Rosgosstrakh" controls 80% of shares of "Moldasig", the rest 20% is distributed among the three founders: "Banca de Economii", SE "Calea Ferata Moldovei" and SE "Posta Moldovei"). As of December 31, 2008, own funds of the company amounted to 120.8 million leis, insurance reserves - 119.9 million lei, assets - 327.9 million leis.