This study proposes an analysis of insurance companies in the light of their special object of activity. This particularity determines the intervention of special national institutions – The Insurance Supervisory Commission – as well as European institutions – The European Commission – in the formation, the organization, the functioning and the supervision of the insurers.

The first part of this research presents and analyses:

-         the amendments introduced by the Law no. 403/2004, which contains legal provisions that will apply from the moment of Romania’s accession to the European Union;

-         the legal entities which are allowed to perform the insurance activity in Romania;

-         the authorization of insurers, the conditions required in order to obtain the authorization, the authorization procedure, the conditions for the withdrawal of the authorization;

-         the role of the Insurance Supervisory Commission concerning the control of the insurers, for the purpose of protecting the rights of insured and promoting the stability in the insurance activity in Romania;

-         the aspects concerning the cooperation and collaboration between the Insurance Supervisory Commission and the European Commission.

The second part of this research analyses:

-         the right of establishment and the freedom to provide services by the insurers;

-         the rules applicable to branches established on the territory of Romania, which belong to insurers having their headquarters outside the European Union;

-         the rules applicable to subsidiaries belonging to companies regulated by the law of a third State.