Matu is struggling to stay alive

Last May 31, the insurance regulatory authority (DAPS) has warned Matu to submit a recovery plan. Otherwise, DAPS will trigger the mechanisms provided for by the insurance code, that is : to put the company under trusteeship or declare the transfer of portfolio or order the partial or total withdrawal of its license. DAPS will come to a decision only after the meeting of the consultative committee which is due to be held on July 13, 2010.