Premier Alliance Insurance Company (formerly Salamander Ukraine, then Van Click) and Alfa Insurance Company have been expelled from the Motor (Transport) Insurance Bureau of Ukraine (MTIBU).
This decision was made at the general meeting of MTIBU members held on January 22, a participant in the meeting told Interfax-Ukraine.
The membership of Premier Alliance Insurance Company was terminated on the basis of the company’s application in connection with the termination of its activities, all its funds were transferred to Salamandra Insurance Company, Alfa Insurance Company – due to the loss of the license for compulsory motor third party liability insurance (MTPL).
As reported, on December 20, 2023, the National Bank of Ukraine revoked all insurance licenses of Premier Alliance Insurance Company PrJSC and excluded information about it from the State Register of Financial Institutions based on the company’s application.
According to the NBU, according to the insurer’s latest financial statements for the first nine months of 2023, the company’s insurance premiums amounted to UAH 14.361 million, assets amounted to UAH 62.419 million, and insurance reserves amounted to UAH 3.840 million. Premier Alliance, like Salamandra, was part of the non-banking financial group Salamandra, the ultimate beneficiary and owner of which is Yuriy Yavtushenko.
As reported, on December 14, 2023, the NBU revoked all licenses of Alfa Insurance (Kyiv) due to violation of the regulations on licensing and registration of financial service providers, namely, inconsistency of business reputation of the owners of significant participation.
According to the NBU, according to the latest filed financial statements of PrJSC “IC “Alfa Insurance” as of September 30, 2023, the company’s insurance premiums amounted to UAH 3.991 million, the value of assets – UAH 644.129 million, insurance reserves – UAH 21.053 million. The company’s market share in terms of insurance premiums amounted to 0.13%.
