On August 8, the supervisory board of Veles Insurance Company (Odessa) extended the term of office of the chair of the management board, Oksana Sherstneva, until September 1, 2025, according to information published by the National Securities and Stock Market Commission (NSSMC) on the holding of a general meeting.
As reported, on July 17, 2025, the National Bank of Ukraine imposed measures on Veles Insurance Company in the form of a written warning due to the fact that the insurer’s authorized capital does not meet the requirements of the Insurance Law regarding its minimum size. In addition, an enforcement measure in the form of a written warning was also applied to IC Veles due to the non-compliance of the insurer’s business reputation and significant shareholders with the requirements of the law.
The company’s shareholders plan to consider increasing the authorized capital by 61.5%, or UAH 24 million, at a general meeting on August 14, 2025.
Veles Insurance Company has been operating in the market since 1998. It holds 15 licenses for voluntary and compulsory types of insurance. It is a member of the Insurance Business Association. Its authorized capital is UAH 39 million.
