The National Bank canceled the license of one more insurer
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The National Bank canceled the license of PJSC “Insurance Company “Universal Polis” to provide financial services. This was reported by the press service of the regulator.
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Reason
According to the NBU, the insurer repeatedly violated the requirements of the license conditions during the year.
In particular, the company does not comply with mandatory financial regulations (solvency and capital adequacy regulations and operational risk regulations).
The decision of the board of the National Bank enters into force on May 5, 2023.
Read also: NBU canceled the licenses of two insurers
The regulator reminded that on November 11, 2022, a measure of influence was applied to PJSC “Insurance Company “Universal Polis” in the form of temporary suspension of licenses for the implementation of insurance activities due to violation of mandatory financial regulations.
The insurance company operates in the non-life segment. According to the report for 2022, the amount of insurance premiums of PJSC “Insurance Company “Universal Polis” amounted to UAH 72 million (of which 90% came from reinsurers), insurance payments – UAH 36 million. According to the results of 2022, the company’s market share is 0.2%.
According to the reporting data for the 1st quarter of 2023, PJSC “Insurance Company “Universal Polis” did not receive insurance premiums.
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News editor Roman Myronchuk writes on the following topics: Economy, finance, banks, cryptocurrencies, investments, technologies
Source: Ministry of Finance
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