Business news from Ukraine

Insurer “PROSTO-strakhovanie” will close 13 regional divisions

On August 22, the shareholders’ meeting of JSC “PROSTO-Insurance” (Kyiv) decided to terminate the activities of 13 regional divisions, according to the company’s information posted in the NSSMC disclosure system.

As reported, the National Bank of Ukraine in May excluded the company from the State Register of Financial Institutions in connection with the revocation of all available licenses to carry out activities on April 27, due to the fact that the ownership structure of the insurer did not meet the requirements of the law.

JSC “PROSTO-strakhovanie” had 23 licenses. According to the company’s latest financial statements for the first quarter of 2023, the volume of insurance premiums amounted to UAH 43.488 million, the value of assets – UAH 561.494 million, insurance reserves – UAH 161.712 million. The company’s market share in terms of insurance premiums amounted to 0.5%.

Insurance Company “PROSTO-Strakhovanie” was registered in 1997. It specializes in providing services in the field of risk insurance.

According to the National Securities and Stock Market Commission, as of the fourth quarter of 2022, 99.998% of the insurer’s shares were owned by Lavidia Limited (Cyprus).