The National Bank has revoked the licenses of two insurance companies and allowed another one to voluntarily exit the market. This was reported by the press service of the NBU.
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Who had their licenses revoked
The National Bank granted permission to ODO SK Varto to voluntarily exit the market by fulfilling the insurance portfolio and agreed on a plan to exit the market.
According to the regulator, the decision on the exit of ODO SK Varto from the market was adopted at the general meeting of the insurer's participants on July 18, 2024. After completing the procedure for exiting the market, the company is obliged to apply to the NBU with an application to cancel the license.
At the same time, based on its own applications, the NBU canceled the licenses for carrying out insurance activities and excluded ODO IC Astramed and JSC IC INGO Zhittya from the State Register of Financial Institutions.
Regarding ODO IC Astramed and JSC IC INGO Zhittya, the NBU granted them permission to exit the market by fulfilling the insurance portfolio on July 5 and June 28, 2024, respectively.
According to the NBU, in 2023, the volume of insurance premiums of ODO IC Varto amounted to UAH 29.594 million, ODO IC “Astramed” – 26.970 million UAH, and JSC “IC “INGO Zhittya” – 293 thousand UAH.
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