The Antimonopoly Committee of Ukraine (AMCU) will consider the application of an individual to provide preliminary conclusions on the need to obtain authorization for the acquisition of substantial participation in ALC “IC Greenwood Life Insurance” (Kiev), which will ensure that he exceeds 50% in the supreme governing body of the company, according to the Committee’s website.
As reported, Greenwood Life Insurance has been operating in the Ukrainian life insurance market since 2007 as the legal successor of the insurance company Garantiya Life.
The National Bank of Ukraine in May 2024 applied a measure of influence to IC “Greenwood Life Insurance” in the form of a written reservation and obligations to take measures to eliminate the identified violation until August 13, 2024
The measure of influence was applied due to the fact that the insurer increased the size of the authorized capital without the approval of the National Bank, the report says.
