The Economic Court of Zaporizhzhya region on October 23, 2024 satisfied the statement of claim of the National Bank of Ukraine (NBU) and decided to open bankruptcy proceedings against Private JSC “Insurance Company ‘Oranta-Sich’. As reported on the website of the NBU, the announcement was made public on the official website of the Supreme Court. It is emphasized that creditors are obliged to submit to the Supreme Court written applications with claims against the debtor and supporting documents within 30 days from the date of official publication of the announcement on the opening of proceedings. This period is the deadline and is not subject to renewal.
As reported, on September 19, 2024 the NBU applied to IC “Oranta-Sich” a measure of influence in the form of attributing the insurer to the category of insolvent and canceled the license for insurance activities.
The reason for such a decision was the results of off-site supervision of the insurer’s activity, which established non-compliance with solvency requirements. So, as of July 1, 2024 the amount of acceptable regulatory capital for meeting the minimum capital requirements of IC Oranta-Sich is more than 50% less than the level of minimum capital, established by the regulatory legal acts of the regulator. Besides IC Oranta-Sich has not provided the plan submission within 15 days from the date of their detection.
According to the law “On Insurance”, the liquidation of the insurer in case of such decisions is carried out in accordance with the Code of Ukraine on bankruptcy procedures.
As reported, the shareholders of IC Oranta-Sich at the meeting on June 27 considered the issue of cessation of activities by fulfilling the insurance portfolio, approval of the exit plan. IC Oranta-Sich was registered in 1995.
