Shareholders of IC Mega-Garant JSC (Kyiv) have decided to terminate the powers of the head of the Supervisory Board Roman Kipot, members of the Supervisory Board Oleksandr Batrak, Natalia Titova.
According to the company’s announcement in the information disclosure system of the National Securities and Stock Market Commission, in addition, Alexander Volokhin, who has been director of Akvis Trade LLC, Kars Technoservice LLC, and Ivan Nizhnik, director of Nizhbud LTD LLC, has been appointed members of the Supervisory Board for the last five years.
As reported, the Motor (Transport) Insurance Bureau of Ukraine announced the company’s loss of associate member status from October 5, 2022. In connection with the temporary suspension of the licenses of IC “Mega-Garan”, including for the implementation of activities on compulsory insurance of civil liability.
Earlier, on August 1, the NBU temporarily suspended the licenses for insurance activities of IC Mega-Garant JSC due to violation of mandatory financial standards.
As the regulator noted, a significant part of the assets of Mega-Garant IC was placed with Megabank JSC, which was classified as insolvent, according to the decision of the NBU dated June 3, 2022.
As a result, IC Mega-Garant lost a large amount of eligible assets that ensure the solvency of the insurer, which led to the fact that, as of June 7, 2022, the insurer does not comply with the solvency and capital adequacy ratio, as well as the risk ratio of operations.
The NBU notes that the insurer has been given a period until September 30, 2022 to eliminate the violations that became the basis for applying the enforcement measure.
JSC “IC “Mega-Garant” is a part of the banking group JSB “Megabank”. It operates in the non-life segment, including OSAGO.
In the first quarter of 2022, the insurer collected UAH 116.4 million in insurance payments (more than 80% of which are OSAGO) and paid out UAH 4.5 million in insurance payments.
The company ranks 28th among the largest Ukrainian companies operating in the OSAGO market and has a 1.24% market share in insurance premiums for this type of insurance.
