The National Bank of Ukraine (NBU) on July 11 revoked the license of PJSC Insurance Company Kyivska Rus (Kyiv) to provide financial services, according to the regulator’s website.
The reason for this decision was the failure to submit reports for 2022, failure to submit information and documents at the request of the National Bank and the company’s failure to eliminate the identified violations in the time specified by the regulator (June 8, 2023).
According to the last submitted to the NBU statements of PJSC IC Kyivska Rus for nine months of 2022, the amount of insurance payments amounted to UAH 85,4 mln, of which UAH 76,9 mln was transferred to reinsurance. The insurer has not made any payments during the specified period.
As it was informed, on May 8, 2023 the NBU has applied to IC “Kyivska Rus” a measure of influence in the form of temporary suspension of licenses in connection with non-submission of reports for the first half of 2022 and for 2022, as well as actuarial report for 2022.
The company also did not submit the report on corporate governance and information on key risks and results of stress testing for 2022, did not provide information and documents at the request of the NBU.
Private JSC IC Kyivska Rus carries out activities on voluntary and compulsory types of insurance other than life insurance.
