Seven insurers’ licenses annulled by Central Bank
5 June 2015 (12:11)
UrBC, Moscow, June 5, 2015. Russia’s Central Bank annulled licenses of seven insurance companies, two of which – Companion and Moya Strakhovaya Kompaniya – have up to now been operating in Yekaterinburg, the bank’s official website states.
The other companies on the list are MRSK, Natsionalnaya Protivopozharnaya Strakhovaya Kompaniya, Rost, Sotis, and Russky Alliance.
The bank explains the licenses were annulled because the insurers failed to bring their operation in compliance with the existing requirements in due time. For one, they did not meet the financial stability and paying capacity parameters and couldn’t comply with the terms of investment applied to their own funds and insurance reserves.
The other companies on the list are MRSK, Natsionalnaya Protivopozharnaya Strakhovaya Kompaniya, Rost, Sotis, and Russky Alliance.
The bank explains the licenses were annulled because the insurers failed to bring their operation in compliance with the existing requirements in due time. For one, they did not meet the financial stability and paying capacity parameters and couldn’t comply with the terms of investment applied to their own funds and insurance reserves.
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