The National Bank of Ukraine on May 11 has cancelled all licenses of ALC Insurance Company Speir (Kyiv) to provide financial services.
According to the message on the website of the regulator, an unscheduled inspection carried out by the NBU in February-March this year found a repeated violation of license conditions – the insurer does not comply with mandatory standards.
The countermeasure for similar violations of license conditions to ALC “IC “Speir” was already applied on September 2, 2022.
The decision on revocation of the license shall come into force on May 12, 2023.
As previously reported, the rating agency “Standard-Rating” has withdrawn the credit rating / financial stability rating of the insurer SK “Speir” on February 9, 2023.
By results of H1 2022 ADO IC Speir received UAH 5,5 m of insurance premiums, 95% of which – from natural persons, and carried out UAH 22,8 th of insurance payments. The market share of the company according to the results of H1 2022 – 0,06%.
