The National Bank of Ukraine (NBU) on December 22, 2021 allowed Altituda closed non-diversified venture corporate investment fund on behalf of, in the interests and at the expense of which PrJSC AMC Altera Asset Management operates, to directly acquire 99.593% of shares of PrJSC Ukrainian Joint-Stock Insurance Company ASKA (Zaporizhia), according to the website of the central bank.
According to the National Securities and Stock Market Commission, as of the third quarter of 2021, Altituda owns 66.0075% of the shares of PrJSC Insurance Company VUSO (Kyiv).
As reported at the end of November 2021, SCM investment company of Rinat Akhmetov announced that it had reached preliminary agreements on the sale of ASKA to VUSO insurance company. The completion of the transaction and the transfer of the corporate rights of ASKA to the buyer must be carried out after all procedures stipulated by the law, obtaining permits and approvals from the NBU.
On December 22, 2021, the NBU decided to cancel 34 licenses for insurance issued to ASKA on the basis of its application, except for the license for compulsory insurance of civil liability of land vehicle owners (OSAGO).
The company was engaged mainly in property types of insurance: property insurance, that against fire risks and risks of natural disasters, cargo and luggage and financial risks.
According to the statements presented by ASKA for the nine months of 2021, the volume of insurance premiums amounted to UAH 853.75 million, the value of assets – UAH 501.1 million, the market share in insurance reserves – 2.55%.
At the same time, the company announced the presence of unfulfilled (overdue) obligations to policyholders (beneficiaries) and valid insurance contracts. At the same time, it provided information on the availability of formed insurance reserves.
ASKA is the first private insurance company that appeared in independent Ukraine, has been operating for over 30 years. It is part of the portfolio of the international investment company SCM.
