Business news from Ukraine

Business news from Ukraine

Ingosstrakh insurer changed one shareholder

2 September , 2024  

Stanislav Sheikhetov, who owns 8.979% of the shares of Ingosstrakh Insurance Company (Dnipro), has reduced his stake to 0%, according to the insurer’s information posted in the NSSMC system. It is noted that Kariama LLC became the owner of 8.979% of the company’s shares.

As reported, Ingosstrakh Insurance Company was registered in 2004. It specialized in providing services in the field of risk insurance. The company’s general partner in the sale of insurance services was PrivatBank.

Earlier, the National Bank informed the insurer that the information on its ownership structure made it impossible to identify persons who have a significant influence on the company’s management or operations. It argued that none of the insurer’s shareholders owns 10% or more of the shares, and there is no information on persons who, independent of formal ownership, have the ability to exert an equivalent influence on the management or activities of Ingosstrakh. According to the regulator, this is one of the signs of non-transparency of the ownership structure of insurers.

Since the insurance company did not bring its ownership structure in line with the requirements of Ukrainian legislation, on March 23, 2023, the NBU revoked the licenses of Ingosstrakh Insurance Company to conduct financial services business, and on March 29, it removed the insurance company from the State Register of Financial Institutions.

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