The National Bank of Ukraine has applied influence measures to ALC IC “Varto” and PrJSC “IC “Into” in the form of the obligation to take measures to eliminate violations and the causes that contributed to their commission.
“Measures of influence are applied due to failure to comply with the requirements of paragraphs 1 and 11 of the NBU’s board resolution “On peculiarities of registration procedures and licensing of participants of the non-banking financial services market during martial law …”, the regulator said in a statement on its website.
According to the document, it refers to written assurances of companies to the National Bank on the compliance of direct and ultimate owners of material participation to the requirements of the regulator on the financial / property status, the documents to assess such a position and subsequent responses to the NBU request.
It is clarified that the Committee on the Supervision and Regulation of Non-Banking Financial Services Markets adopted such decisions on May 29, 2023.
According to the NBU, the net earned premiums of IC “Varto” in the first quarter of 2023 amounted to 4,36 mln UAH, insurance payments – 2,57 mln UAH, net profit – near zero. Assets of the company at the beginning of April equaled UAH 39,03 mln, shareholders’ equity – UAH 34,16 mln.
The larger IC “Into” has net earned insurance premiums in the first quarter of 2023 were equal to UAH 17,67 mln, insurance payments – UAH 10,46 mln, net profit – UAH 0,28 mln. At the beginning of April assets of the company amounted to UAH 146,35 mln, shareholders’ equity – UAH 110,63 mln.
