On October 20, the National Bank of Ukraine fined IC Ekta (Kyiv) ODO for late provision of information and documents in full at the request of the regulator, according to the NBU website.
It is also noted that the insurance company must pay a fine (the amount is not specified – IF) within seven working days from the date of receipt of the relevant decision of the regulator to impose a fine.
The decision to apply the enforcement measure comes into force on October 21, 2022.
As reported, on August 19, 2022, the National Bank of Ukraine applied a measure of influence to the company in the form of a temporary suspension of licenses to carry out insurance activities for violation of mandatory financial standards (solvency, capital adequacy and risk of operations).
The regulator clarified that the violations were detected based on the results of the analysis of the reporting of the UK for the first quarter of 2022. The insurer had to eliminate the violations by September 20, 2022.
IC “EKTA” was registered in 2018 and specializes in risk insurance.
In the first half of this year, the insurer collected UAH 94.2 million of insurance payments and paid out UAH 6.5 million of insurance payments. The authorized capital is UAH 37 million.
