Uralros loses license

5 June 2009 (08:05)

The Russian Federation Federal Insurance Surveillance Service made several insurers’ licenses void temporarily and annulled the licenses of eight insurance companies, including Uralros Insurance Company that used to deal in obligatory car insurance packages. The decrees to this extent were signed on May 28, 2009 and are to come into effect on June 4, 2009, the Insurance News Agency reports.

The other companies to lose their licenses are: Sochi-based Altair, Moscow-based First National Insurance Society, Moscow Region-based Universal Reinsurance Society, Moscow Region-based Avis+, Saint Petersburg-based European Insurance Company, and Krasnogorsk-based Finstrakh.

In addition, the license of Moscow-based Itera Garant has also been declared invalid due to the insurer’s going out of business.

The four companies to have their licenses banned temporarily are Moscow-based Zolotoy Garant and Lonja and Makhachkala-based Yug Express.

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