On 15 July 2015, the Romanian Financial Supervision Authority, the European Commission and EIOPA jointly published the results of an assessment of the Romanian insurance sector.  Importantly, this identified (pursuant to a Balance Sheet Review and Stress Test) that the Romanian insurance sector was not adequately capitalised.  Certain (re)insurers perceived to be the main contributors to the shortfall have been requested to prepare and submit action plans setting out the measures they would take to become Solvency II compliant.