Insurance Company “Veles” (Odesa) plans to change its name to PJSC “Veles” and update its business activities, according to information submitted by the insurer to the disclosure system of the National Securities and Stock Market Commission (NSSMC).
According to the information, the company’s shareholders plan to consider this matter at a meeting on September 15, 2026.
The company plans to remove the following from the list of economic activities it is authorized to conduct: insurance, risk assessment, and other auxiliary activities in the field of insurance and pension provision. And to include, in particular, consulting on commercial activities and management; brokerage services in the trade of timber, construction materials, and plumbing
fixtures; brokerage services in the trade of furniture, household goods, iron and other metal products; the leasing and operation of owned or leased real estate; legal services; the activities of head offices; and consulting on commercial activities and management.
As previously reported, the National Bank of Ukraine, by a decision dated July 29, 2026, revoked the company’s license to conduct insurance activities and removed it from the State Register of Financial Institutions based on a submitted application.
Insurance Company “Veles” holds a 0.01% market share in terms of insurance premiums and technical reserves.
It was previously reported that on May 14, 2026, the general meeting of shareholders of PJSC Insurance Company “Veles” approved a resolution on the company’s exit from the market and an exit plan.
According to the company’s financial statements, for the first three months of 2026, insurance premiums totaled 1.790 million UAH, technical reserves amounted to 4.501 million UAH, and no insurance claims were paid.
Insurance Company “Veles” has been operating in the market since 1998. It is a member of the “Insurance Business” association. Its authorized capital was 39 million UAH.
